Bluejay Diagnostics shares are trading higher after the company announced the board approved a 1-for-20 reverse stock split.
Portfolio Pulse from Benzinga Newsdesk
Bluejay Diagnostics has announced that its board has approved a 1-for-20 reverse stock split, leading to a rise in its share prices.
July 21, 2023 | 4:23 pm
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Bluejay Diagnostics' shares are trading higher following the announcement of a 1-for-20 reverse stock split.
A reverse stock split reduces the number of shares in circulation, which can lead to an increase in the stock's price. This is because the earnings per share (EPS) will increase as there are fewer shares, which can make the stock more attractive to investors. Therefore, the announcement of a 1-for-20 reverse stock split by Bluejay Diagnostics has led to a rise in its share prices.
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