On July 6, 2023, Astra Space Board Of Directors Approved Reverse Stock Split - Filing
Portfolio Pulse from Benzinga Newsdesk
Astra Space's board of directors has approved a reverse stock split, which is expected to be completed on or before October 2, 2023. The exact ratio and timing of the split will be determined by the board, but it will be in the range of 1-for-5 to 1-for-15.
July 10, 2023 | 9:18 pm
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Astra Space's approved reverse stock split may lead to a temporary increase in stock price due to reduced supply. However, the long-term impact will depend on the company's performance.
A reverse stock split reduces the number of shares in circulation, which can temporarily increase the stock price due to reduced supply. However, the long-term impact on the stock price will depend on the company's financial performance and market conditions.
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