Earlier Reported, Taoping Announced 1-For-10 Reverse Stock Split; Beginning August 1, 2023, The Company's Ordinary Shares Will Be Trading On A Split-Adjusted Basis
Portfolio Pulse from Happy Mohamed
Taoping Inc. (NASDAQ:TAOP) has announced a one-for-ten reverse stock split of its ordinary shares, effective from August 1, 2023. The move is intended to increase the per share trading price to meet the $1.00 minimum bid price requirement for continued listing on the NASDAQ Stock Market. Post-split, the company will have approximately 1.86 million ordinary shares issued and outstanding.
July 31, 2023 | 4:09 pm
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Taoping's reverse stock split is aimed at increasing the per share trading price to meet NASDAQ's listing requirements. This could potentially attract more investors, but also indicates the company's struggle to maintain its share price.
A reverse stock split reduces the number of shares in circulation, which can lead to an increase in the share price. However, it's often seen as a negative signal as it indicates the company has been struggling to maintain its share price. The impact on TAOP's stock price will depend on how investors interpret this move.
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