Blue Star Foods Corp. Announces 1-For-20 Reverse Stock Split
Portfolio Pulse from Happy Mohamed
Blue Star Foods Corp. (NASDAQ: BSFC) has announced a 1-for-20 reverse stock split, effective for trading purposes on June 21, 2023. The main purpose is to decrease the total number of shares outstanding and proportionately increase the market price to meet Nasdaq Capital Market's continued listing requirements.
June 20, 2023 | 4:31 pm
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Blue Star Foods Corp.'s 1-for-20 reverse stock split aims to meet Nasdaq listing requirements by decreasing outstanding shares and increasing market price.
The reverse stock split will decrease the total number of outstanding shares and proportionately increase the market price, which is intended to meet Nasdaq's continued listing requirements. This action is neutral for the stock price in the short term, as it does not affect the company's fundamentals or operations.
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