Market Globalist

Medley Management Inc. (MDLY) stock soars during pre-market trading, given no recent update

Medley Management Inc. (NASDAQ: MDLY) stock gained by 8.96% at last close while the MDLY stock price rises by 108.90% in the pre-market trading session. There is no recent news available regarding this huge surge in MDLY share price. Medley is an alternative asset management organization that provides individual and institutional clients with income options. Medley manages $1.9 billion in assets through Sierra Income Corporation, a business development firm, and other private investment entities.

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Recent Past Development

The New York Stock Exchange has informed Medley Management Inc. that it is in violation of Section 802.01E of the NYSE Listed Company Manual as a result of its incompetence to timeously file its Quarterly Report on Form 10-Q for the quarter ended March 31, 2021, with the Securities and Exchange Commission. The notification has no immediate impact on MDLY’s Class A Common Stock’s NYSE listing.

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The NYSE told MDLY that it can restore compliance with Section 802.01E of the NYSE listing rules by submitting a Form 10-Q with the SEC at any time before November 24, 2021, according to the NYSE’s regulations. If MDLY fails to submit the Form 10-Q by that date, the NYSE may provide an additional extend of up to six months, in its sole discretion, for MDLY to recover compliance, based on the unique circumstances. If circumstances warrant, the NYSE may begin delisting proceedings at any point throughout the timeframe allotted to complete the file, according to the NYSE notification.

However,

MDLY intends to submit the Form 10-Q as soon as possible following the conclusion and finalization of the Form 10-Q financial statements and disclosure, as well as the completion of the review processes, but it is currently unable to provide a particular filing date. MDLY is working tirelessly to finish and finalize Form 10-Q and plans to file it as soon as possible.

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