Applied UV Effects 1-For-5 Reverse Stock Split
Portfolio Pulse from Shivani Kumaresan
Applied UV Inc (NASDAQ: AUVI) announced a 1-for-5 reverse stock split to comply with Nasdaq's $1.00 minimum bid price requirement. The split-adjusted shares will begin trading on May 31, 2023.
May 30, 2023 | 3:13 pm
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NEUTRAL IMPACT
Applied UV Inc's 1-for-5 reverse stock split aims to maintain its Nasdaq listing by meeting the $1.00 minimum bid price requirement.
The reverse stock split is intended to bring Applied UV Inc into compliance with Nasdaq's minimum bid price requirement. While this action may help maintain its listing, it does not directly impact the company's fundamentals or financial performance. Therefore, the short-term impact on the stock price is neutral.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100