Applied UV shares are trading lower after the company announced a 1-for-5 reverse stock split.
Portfolio Pulse from Benzinga Newsdesk
Applied UV announced a 1-for-5 reverse stock split, causing its shares to trade lower.
May 30, 2023 | 3:17 pm
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NEGATIVE IMPACT
Applied UV's shares are trading lower due to the announced 1-for-5 reverse stock split.
Reverse stock splits often lead to a decrease in share price as they are perceived negatively by investors. The 1-for-5 reverse stock split announcement by Applied UV has caused its shares to trade lower, reflecting this common market reaction.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100