DBGI Announces 1-For-25 Reverse Stock Split Effective August 22, 2023
Portfolio Pulse from Happy Mohamed
Digital Brands Group, Inc. (DBGI) has announced a 1-for-25 reverse stock split of its common stock, effective on August 22, 2023. The stock will continue to trade on The Nasdaq Capital Market under the existing symbol 'DBGI' and will begin trading on a split-adjusted basis when the market opens on August 22, 2023.
August 21, 2023 | 5:51 pm
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Digital Brands Group's 1-for-25 reverse stock split may lead to a temporary increase in stock price due to perceived value, but the long-term impact will depend on the company's performance.
A reverse stock split reduces the number of shares in circulation, which can lead to a temporary increase in stock price due to perceived value. However, the long-term impact on the stock price will depend on the company's performance and market conditions.
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