Volato Group Stock Rallies Pre-Market After Resolution Of NYSE American Non-Compliance: Retail Sentiment Edges Higher

Shares of aviation firm Volato Group Inc (SOAR) rallied over 9% in Thursday’s pre-market session after the company announced it had resolved an issue related to non-compliance with the NYSE American rules.

Volato Group had received a warning letter under Section 1009(a) of the NYSE American Company Guide describing the firm’s failure to comply with sections 301 and 713.

The company said it issued approximately 16 million Class A shares between November 2024 and December 2024 in accordance with a settlement agreement and stipulation dated Nov. 4, 2024. The NYSE determined this violated the said provisions, it added.

“The company is implementing additional controls to avoid violations of such NYSE rules in the future,” Volato said.

Following the disclosure, retail sentiment on Stocktwits inched up into the ‘neutral’ territory (45/100) from ‘bearish’ a day ago.

SOAR’s Sentiment Meter and Message Volume as of 6:59 a.m. ET on Dec. 26, 2024 | Source: Stocktwits

Most retail chatter on Stocktwits indicated a positive take on the stock.

Earlier this month, Volato stated it remains on track to deliver positive net income in the fourth quarter (Q4) of 2024, driven by strategic initiatives that have already improved financial performance.

In the previous quarter, the firm reported $40.3 million in revenue, up $36.6 million year-over-year. It also reported positive adjusted earnings before interest, tax, depreciation, and amortization (EBITDA) of $3.2 million.

Despite the confidence shown by the firm, its stock has lost over 18% in the last one month. On a year-to-date basis, the shares have lost over 94% of their value.

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