Ontrak Announces 1-For-6 Reverse Split
Portfolio Pulse from Benzinga Newsdesk
Ontrak has announced a 1-for-6 reverse stock split. This action is typically taken by companies to increase the market price of their shares.
July 27, 2023 | 12:51 pm
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POSITIVE IMPACT
Ontrak's 1-for-6 reverse stock split may lead to an increase in the market price of its shares in the short term.
A reverse stock split reduces the number of shares outstanding, which can lead to an increase in the market price of the shares. This could make the stock more attractive to investors, potentially leading to increased demand and a higher share price in the short term.
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