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Garrett Smallwood, the Chief Executive Officer of Wag! Group Co. (NASDAQ:PET), recently sold a portion of the company’s stock, as detailed in a recent SEC filing. The pet services company, currently valued at $17.4 million, has seen its stock decline by roughly 86% over the past year, though InvestingPro analysis suggests the shares are trading below their Fair Value. On February 19, Smallwood sold a total of 38,144 shares of common stock, generating proceeds of $11,471. The sale price ranged between $0.30 and $0.31 per share.
Following these transactions, Smallwood retains ownership of 998,429 shares. It’s important to note that the sales were not discretionary; they were conducted to cover tax withholding obligations related to the vesting of restricted stock units, as mandated by the company’s incentive plans.
In other recent news, Wag! Group Co. is facing potential delisting from the Nasdaq Stock Market due to its market value of publicly held securities falling below the required $15 million threshold. The company was notified that its market value had been below this minimum for 30 consecutive business days, from November 13, 2024, to January 13, 2025. This notice does not immediately affect the company’s common stock listing, and Wag! Group has until July 14, 2025, to meet the requirement and avoid delisting. The company had previously been notified on September 27, 2024, of failing to meet other continued listing requirements under Nasdaq’s standards. While Wag! Group has the right to appeal any delisting decision, there is no guarantee that such an appeal would be successful. If compliance is not achieved by the deadline, the company may receive a notification of its securities being subject to delisting. The information regarding these developments was based on a recent SEC filing by Wag! Group Co.
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