Lordstown Motors Corp Announces A 1:15 Reverse Stock Split
Portfolio Pulse from Benzinga Newsdesk
Lordstown Motors Corp. (NASDAQ:RIDE) announced a 1:15 reverse stock split of its Class A common stock, effective at 12:01 a.m. Eastern Time on May 24, 2023. The stock will continue trading on the Nasdaq Global Select Market under the symbol 'RIDE'.
May 23, 2023 | 11:28 am
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Lordstown Motors' 1:15 reverse stock split may lead to short-term price fluctuations as the market adjusts to the new share structure.
Reverse stock splits can lead to short-term price fluctuations as the market adjusts to the new share structure. However, the long-term impact on the stock price will depend on the company's fundamentals and overall market conditions. In this case, the reverse stock split is aimed at increasing the stock price and improving the company's market perception.
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