Energous Announces 1:20 Reverse Stock Split
Portfolio Pulse from Charles Gross
Energous Corporation (NASDAQ:WATT) has announced a 1-for-20 reverse stock split of the company’s common stock, effective from August 16, 2023. The company's common stock will begin trading on a split-adjusted basis from the same date.
August 15, 2023 | 4:55 pm
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Energous Corporation's 1-for-20 reverse stock split may lead to a temporary increase in stock price due to perceived value, but the fundamental value of the company remains unchanged.
A reverse stock split reduces the number of shares in circulation, which can lead to a temporary increase in the stock price due to perceived scarcity. However, it does not change the company's market capitalization or its fundamental value. Investors should be aware that the increase in stock price may be temporary.
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