Cineverse shares are trading lower after the company announced a 1-for-20 reverse stock split.
Portfolio Pulse from Benzinga Newsdesk
Cineverse announces a 1-for-20 reverse stock split, causing its shares to trade lower.
June 08, 2023 | 3:47 pm
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Cineverse's shares are trading lower after announcing a 1-for-20 reverse stock split.
Cineverse announced a 1-for-20 reverse stock split, which typically leads to a decrease in share price as it indicates the company is trying to increase the stock price by reducing the number of outstanding shares. This news directly impacts Cineverse's stock price, causing it to trade lower in the short term.
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