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Why Cano Health Stock Slid by Nearly 3% on Tuesday

Why Cano Health Stock Slid by Nearly 3% on Tuesday

Highly beleaguered healthcare stock Cano Health (NYSE: CANO) was hit with some bad news it probably didn't need on Tuesday, and investors sold out of the company. Late on Monday, Cano Health disclosed in a regulatory filing that it has received formal notice from the New York Stock Exchange (NYSE) that it is in violation of the exchange's trading rules. As per the NYSE's regulations, Cano Health now has six months to regain compliance with the 30-day, $1 rule.