Is Genesis Healthcare (GEN) Ready To Hit $1 Soon?

The Genesis Healthcare (NYSE: GEN) stock seemed to be on the radars of many investors on Monday. The reason behind that might be related to development from last week.

Back on March 3, it emerged that the company is looking to cut its debt by as much as $236 million through a restructuring plan. The company announced that it is looking to deploy a three-step strategy in order to cut down its debt and eventually improve its financial position considerably.

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Such an announcement can almost always have a positive development on the stock price and hence, it might be a good idea for investors to keep an eye on the Genesis Healthcare stock this week. The company is aiming to end master lease agreements with Wellflower at 51 assisted living locations. The company is expected to raise $86 million through that transaction and use it to pay off debts. With such deals in the works for restructuring its debts, the Genesis Healthcare stock could be one to watch.

Anthony Gonzales

Biotech, Tech, and Crypto reporter Anthony Gonzales brings 3 years of experience in helping grassroots, mid-sized organizations and large institutions strengthen their management and resource generating capacities and effectively plan for the future. He is also a mentor and professional advisor to artists working in all disciplines. He is the gold medalist from St. Marco University of Science and Technology in the Bachelors of Financial Management as well.