Cano Health plummets on flagging going concern doubts

Cano Health

11/08/2023 10:17

** Shares of Cano Health  CANO.N  fall 49% to 78 cents
premarket
    ** Co says current liquidity is not sufficient to cover
operating, investing and financing uses for the next 12 months
and may impede its ability to function as a going concern
    ** The primary care provider's Q2 net loss widened to
$270.75 mln from $14.6 mln last year
    ** Q2 revenue was $766.75 mln, below analysts' average
estimate of $828.44 mln according to Refinitiv data
    ** 3 brokerages rate the stock "buy" or higher, 5 "hold" and
2 "sell" or lower; their median PT is $2.25
    ** Up to last close, stock up ~11% YTD

 (Reporting by Christy Santhosh)
 ((Christy.santhosh@thomsonreuters.com))