Verastem Oncology Announces 1-For-12 Reverse Stock Split
Portfolio Pulse from Benzinga Newsdesk
Verastem Oncology has announced a 1-for-12 reverse stock split, which will reduce the number of outstanding shares and increase the stock price proportionally.
May 31, 2023 | 1:14 pm
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Verastem Oncology's 1-for-12 reverse stock split will reduce the number of outstanding shares and increase the stock price proportionally.
The reverse stock split will reduce the number of outstanding shares, which will increase the stock price proportionally. This action is typically taken to meet minimum stock price requirements for listing on exchanges. While it may initially create a perception of increased value, the underlying fundamentals of the company remain unchanged. Therefore, the short-term impact on the stock price is neutral.
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