24/7 Market News Snapshot 24 December, 2024 – Volato Group, Inc. (NYSE:SOAR)
DENVER, Colo., 24 December, 2024 (247marketnews.com) – (NYSE:SOAR) are discussed in this article.
Volato Group, Inc. (SOAR) has experienced a significant uptick in its stock performance, opening at $0.239 and climbing to $0.275, representing a robust increase of 15.89%. This surge follows the previous trading session’s close at $0.237, with current trading volume reaching 6 million shares, indicating increased investor engagement. Technical analysis reveals the stock has broken through immediate resistance levels, suggesting potential for further upward movement. Investors are advised to monitor essential support levels near $0.25 to assess any possible pullbacks.
In conjunction with its strong market performance, Volato is taking decisive action to enhance its compliance framework following a Warning Letter from NYSE Regulation. The letter addresses a violation involving the issuance of approximately 16 million shares of Class A common stock from November to December 2024 without proper stockholder approval, contravening Sections 301 and 713 of the NYSE American LLC Company Guide. These guidelines mandate that a listed company must secure approval for additional securities and obtain stockholder consent for significant equity transactions.
In response to the regulatory notification, Volato is instituting strengthened internal controls to prevent future compliance issues. The Company has received confirmation from NYSE Regulation that resolving this matter hinges on the formal release of this announcement and the related Current Report on Form 8-K.
As an innovator in the private aviation sector, Volato continues to prioritize cutting-edge technology and customer focus. Its proprietary Mission Control software enhances operational efficiencies across fractional ownership, charter services, and on-demand flight access, while the Vaunt platform connects travelers to available private flights. Through these initiatives, Volato reaffirms its commitment to transparency and high standards of corporate governance, ensuring alignment with regulatory expectations and customer satisfaction.