Why ABVC Biopharma Stock Is Trading Higher
Portfolio Pulse from Henry Khederian
ABVC Biopharma Inc announced a 1-for-10 reverse stock split to regain compliance with Nasdaq's listing rules. The split aims to decrease outstanding shares, increase the market price and attract a broader investor base. The company's shares are trading higher by 3.21% to $4.03 after the announcement.
July 25, 2023 | 2:50 pm
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ABVC Biopharma's shares are trading higher after the announcement of a 1-for-10 reverse stock split. The move is aimed at regaining Nasdaq compliance and attracting a broader investor base.
The announcement of a reverse stock split is generally seen as a positive move by the market, as it is aimed at increasing the market price of the shares and attracting a broader investor base. This has led to an increase in ABVC's share price.
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