Shares of FedNat Holding Company (FNHC) are up +0.4050 (+77.8846%) at the open today. The shares have a historical volatility of over 200%.
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So why is FNHC surging today ?
On August 17, 2022, it had received notice from the Listing Qualifications Department of the Nasdaq Stock Market notifying the Company that it was not in compliance with requirements of Nasdaq Listing Rule 5250(c)(1) as a result of not having timely filed its Quarterly Report on Form 10-Q for the quarter ended June 30, 2022. While this is old news, does that mean FNHC is now in compliance and the news is pending release ? Or could retail traders be responsible for Friday’s and today’s surge in FNHC stock prices ? It would be interesting to see if the company announces any news this week to back up the recent explosion in stock price.
FedNat Holding Company is an insurance holding company that controls substantially all aspects of the insurance underwriting, distribution and claims processes through our subsidiaries, equity investments and contractual relationships with independent agents and general agents.
Other companies in FedNat Holding’s space includes: Kingstone Companies (NASDAQ:KINS), Unico American (NASDAQ:UNAM), Root (NASDAQ:ROOT), FG Finl Gr (NASDAQ:FGF) and Investors Title (NASDAQ:ITIC).
