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AeroCentury Corp. (ACY) stock is declining in Pre-Market today: What’s Going on?

Shares of AeroCentury Corp. (ACY) stock continued to decline in the pre-market trading session today on June 7, 2021, after suffering a drop of 0.32% at the previous closing. The ACY stock price saw a downtrend of 4.31% to drop at $12.00 a share as of this writing. There is no particular activity by AeroCentury that might justify this drop. Let’s deep dive to explore more about ACY stock.

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What’s Happening?

There is no recent news today by ACY stock, no analysts downgrade or decreased targeted per share price of the ACY stock to explain the bearish sentiment. It seems that ACY stock was down at previous trading and still waiting for rising momentum. At this moment, it is better to discuss some recent events of the AeroCentury stock.

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NYCE American Notice:

On May 28, 2021, ACY stock received the written notice by NYSE American LLC after reviewing the financial statement of the AeroCentury. The notice was related to AeroCentury non-compliance with section 1003(a)(ii) of the NYSE American Company Guide after the reporting of $23 million stockholders’ deficit by the end of March 2021 and net losses in three out of four quarters in the last year.

Financial Results:

On May 21, 2021, ACY stock did announce the first quarter 2021 financial results according to which.

As of March 31, 2020, ACY stock had cash and cash equivalents of $4.22 million as compared to $2.75 million by the end of December 2020.

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Wrap Up:

Things are not favorable for ACY stock as far as market sentiment is concerned. The stock growth was down according to the first quarter of 2021 financial results. Furthermore, AeroCentury along with its subsidiaries also filed the voluntary petition for bankruptcy protection in the last week of March 2021. In a nutshell, investors must be aware of all facts and figures related to ACY stock before adding it to their portfolio.

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