• Investing
  • Stock
  • Editor’s Pick
  • Economy
The Significant Deals
Stock

Kooth faces Pennsylvania pilot contract termination, sending shares sharply lower

by October 18, 2024
written by October 18, 2024

LONDON – Kooth plc (AIM: KOO), a company specializing in digital mental health services for youth, announced today that the State of Pennsylvania has initiated the termination of its pilot contract with the company. The contract, which was originally set to run through June 30, 2024, and later extended to June 2025, will now be subject to a 30-day notice period as per the State’s decision.

Shares of Kooth plunged 17.7% in late-date trading amid the news.

The pilot contract, established on October 11, 2022, was part of Kooth’s expansion efforts in the United States. The recent communication from the State has left the future of Kooth’s operations in Pennsylvania uncertain, prompting the company to seek urgent clarification on the matter.

Despite this development, Kooth’s Board has stated that its expectations for the fiscal years 2024 and 2025 are unchanged. The company has not provided further details on the reasons behind the State’s decision or the potential implications for its services in Pennsylvania.

This announcement is based on a press release statement from Kooth plc. The company, which has positioned itself as a global leader in the field of digital mental well-being for young people, will be addressing the situation with the State to determine the next steps for its operations in the region. As the situation develops, stakeholders will be looking for more information on how this will affect Kooth’s presence in the U.S. market and its overall strategic objectives.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

This post appeared first on investing.com
0 comment
0
FacebookTwitterPinterestEmail

previous post
US single-family homebuilding rises to five-month high
next post
US FAA opens new oversight review into Boeing safety practices

You may also like

BASF results down on impairments, restructuring

January 27, 2025

European chipmakers slump as traders gauge DeepSeek AI...

January 27, 2025

Nasdaq futures tumble as China’s AI push rattles...

January 27, 2025

China Vanke’s CEO, chairman resign amid growing liquidity...

January 27, 2025

Fuji Media, rocked by sexual misconduct allegations, says...

January 27, 2025

Italy’s MPS shares fall ahead of Mediobanca board...

January 27, 2025

British Land stock drops following stake sale

January 27, 2025

UMG shares rally after new multi-year pact with...

January 27, 2025

BASF shares indicated 3% lower as impairments drag...

January 27, 2025

Ryanair cuts 2026 traffic forecast amid ongoing Boeing...

January 27, 2025
Fill Out & Get More Relevant News








    Stay ahead of the market and unlock exclusive trading insights & timely news. We value your privacy - your information is secure, and you can unsubscribe anytime. Gain an edge with hand-picked trading opportunities, stay informed with market-moving updates, and learn from expert tips & strategies.

    Recent Posts

    • Divided Fed proposes rule to ease capital requirements for big Wall Street banks

      June 26, 2025
    • Women’s Tennis Association extends media rights deal with Tennis Channel through 2032

      June 26, 2025
    • Bumble shares jump 26% as dating company plans to axe 30% of workforce

      June 26, 2025
    • Small-business AI use is lagging, but one firm is channeling Sherlock Holmes and knocking out ‘grunt work’

      June 25, 2025

    Categories

    • Economy (245)
    • Editor's Pick (3,646)
    • Investing (534)
    • Stock (6,426)

    Latest News

    • Divided Fed proposes rule to ease capital requirements for big Wall Street banks
    • Women’s Tennis Association extends media rights deal with Tennis Channel through 2032

    Popular News

    • Earnings call: UnitedHealth affirms outlook amid challenges, focuses on growth
    • Rivian drops after cutting full year production guidance

    About The Significant deals

    • Privacy Policy
    • Terms & Conditions

    Copyright © 2025 thesignificantdeals.com | All Rights Reserved

    The Significant Deals
    • Investing
    • Stock
    • Editor’s Pick
    • Economy