Acorda Therapeutics Plan To Conduct 1-For-20 Reverse Stock Split
Portfolio Pulse from Benzinga Newsdesk
Acorda Therapeutics plans to conduct a 1-for-20 reverse stock split, effective at 4:01 p.m. Eastern Time on June 2, 2023. The move aims to regain compliance with the $1.00 per share minimum closing price required for continued listing on The Nasdaq Global Select Market.
May 31, 2023 | 9:11 pm
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Acorda Therapeutics' 1-for-20 reverse stock split aims to regain compliance with Nasdaq's $1.00 per share minimum closing price requirement.
The reverse stock split will help Acorda Therapeutics regain compliance with Nasdaq's minimum closing price requirement, which is important for maintaining its listing. However, the short-term impact on the stock price is uncertain, as the market may react positively or negatively to the news.
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