Bluejay Diagnostics Board Approves Reverse Stock Split Of Its Shares At Ratio Of 1-For-20
Portfolio Pulse from Benzinga Newsdesk
Bluejay Diagnostics' board has approved a reverse stock split of its shares at a ratio of 1-for-20.
July 21, 2023 | 11:08 am
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Bluejay Diagnostics has approved a 1-for-20 reverse stock split, which will reduce the number of outstanding shares and potentially increase the stock price.
A reverse stock split reduces the number of shares outstanding, which can lead to an increase in the stock price. However, it does not change the company's overall market value. The impact on the stock price can be neutral or positive depending on investor perception.
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