Nova LifeStyle, Inc. Announces 1-For-5 Reverse Stock Split; Will Begin Trading On A Split-Adjusted Basis On The Nasdaq Capital Market At The Commencement Of Trading On May 24, 2023
Portfolio Pulse from Benzinga Newsdesk
Nova LifeStyle, Inc. (NASDAQ:NVFY) has completed a 1-for-5 reverse stock split, effective May 22, 2023. The company's common stock will begin trading on a split-adjusted basis on the Nasdaq Capital Market on May 24, 2023 under the symbol NVFY.
May 23, 2023 | 4:48 pm
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Nova LifeStyle's 1-for-5 reverse stock split will result in a split-adjusted trading on the Nasdaq Capital Market starting May 24, 2023.
The reverse stock split will consolidate every 5 shares of NVFY's common stock into one issued and outstanding share. This action is neutral in terms of stock price impact, as it does not change the company's fundamentals or market value. However, it may improve the stock's marketability and liquidity.
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