Polished.com (NYSEMKT:POL) stock is on the rise Friday after the e-commerce company announced that it has regained listing compliance.
Polished.com wasn’t compliant with NYSE American listing standards due to the late filing of certain earnings reports. As a result, the company filed a Form 10-K that caught it up with delayed filings and removed it from the danger of being delisted.
The form filed by Polished.com covers earnings data throughout 2022. The company says that includes results for the full year, as well as deeper insight into the company’s performance for the quarters ended on June 30, 2022, Sept. 30, 2022 and March 31, 2023. It also restated data from its quarter ended on March 31, 2022.
What This Means for POL Stock
Now that POL stock is no longer in danger of being delisted, investors can take more confidence in buying the company’s shares. That has led to strong pre-market trading on Friday with more than 3 million shares changing hands. That’s already well above the company’s daily average trading volume of about 1.8 million shares.
Polished.com operates an e-commerce platform that focuses on appliances, furniture and home goods. The firm was founded in 1951 and previously operated under the Goedeker’s name. The company currently employs almost 400 people.
POL stock is up 36.6% as of Friday morning.
Investors looking for even more of the most recent stock market news will want to stick around!
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On the date of publication, William White did not hold (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.
