Key Highlights

  • SelectQuote (NYSE:SLQT) received a continued listing notice from the New York Stock Exchange after its average closing price stayed below USD 1.00 over 30 consecutive trading days, according to a company filing from March 2026.
  • A proxy statement proposes a Reverse Stock Split at a ratio between 1-for-10 and 1-for-20, with a stockholder meeting on November 10, 2026 and a Record Date of September 18, 2026.
  • The proxy states the board reserves the right not to carry out the reverse split even if stockholders approve it.
  • Published market data showed SLQT at USD 0.52, up 26.07%, on Volume of 2.635 million shares; the snapshot date could not be confirmed, so the figures are unverified.

NYSE Price Notice Sets the Compliance Clock

SelectQuote (NYSE:SLQT) runs a technology-enabled platform that sells Medicare Advantage, life and other insurance policies on behalf of carriers. The company disclosed in March 2026 that it was out of compliance with Section 802.01C of the NYSE Listed Company Manual, because its average closing price had been under USD 1.00 for 30 consecutive trading days. The standard gives a company six months from receipt of the notice to regain compliance, which requires a closing price and a 30-trading-day average of at least USD 1.00 on the last trading day of a month. The stock remains listed during the cure period, subject to other NYSE standards.

A 1-for-10 to 1-for-20 Reverse Split on the Ballot

The company's proxy materials, filed in September 2026, include a proposal for a reverse stock split in a range of 1-for-10 to 1-for-20, with the board to set the final ratio. A reverse split consolidates shares so each one is worth more, but it does not change the value of the business: at 1-for-10, a USD 0.52 share would become about USD 5.20 (simple arithmetic, ignoring any later price move). Under NYSE rules, a company needing stockholder approval for a split to cure a price deficiency generally has until its next meeting, though how this applies to SelectQuote's timeline was not confirmed. The record date for voting was September 18, 2026.

Penny Stock Volatility and What Is Unverified

At USD 0.52, SLQT is a penny stock, and a 26.07% jump on 2.635 million shares can come from a small number of trades. Spreads can be wide, and quoted moves in a Penny Stock can reverse, so the gain should not be read as a trend. No company announcement explaining the move was found, and the snapshot date is unknown. The company's latest quarterly results, the outcome of the cure period and the current NYSE status were not located, so they are not described. Fiscal-year results and the vote result on November 10 will be the next verifiable data points.

Where Things Stand

SelectQuote jumped 26.07% in published data, the kind of swing that small volume can produce in a low-priced stock, but no company news was found to explain it, and the snapshot date is unknown. The verified background is an NYSE notice for a sub-USD 1.00 average price and a November 10, 2026 stockholder vote on a reverse split of 1-for-10 to 1-for-20. A split would raise the quoted price mechanically, but it would not change the business, and the board can decline to proceed. Investors can watch the vote result, the final ratio and the NYSE's confirmation of compliance.