Camber Energy (NYSEMKT:CEI) stock is on the move today and investors will want to keep an eye on the shares ahead of a major event on May 20.
Camber Energy is facing delisting from the NYSE American Exchange over compliance issues. That includes failure to timely file several forms with the U.S. Securities and Exchange Commission (SEC).
Among these are its Form 10-K for the nine-month period ended Dec. 31, 2020, 10-Q for the period ended March 31, 2021, Form 10-Q for the period ended June 30, 2021, and Form 10-Q for the period ended Sept. 30, 2021.
According to Camber Energy, it was going to file the missing forms by April 1, 2022. The company says it failed to do so due to certain circumstances. This has the SEC giving the company until May 20 to file the delayed reports.
So what happens to CEI stock if Camber Energy doesn’t file its reports? If May 20 comes and goes without a filing, the NYSE American Exchange will start the process to delist shares of CEI.
CEI stock saw a steady decline in the first half of April following this news. Then a spike occurred midway through the month that pushed the shares above $1. However, that momentum couldn’t continue as shares started to slip again in the following days.
That brings us to today, which sees shares of CEI stock up 6.6% as of Wednesday afternoon.
Investors seeking more stock market coverage for Wednesday will want to keep reading!
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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
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