Momentus Effectuates 1-for-50 Reverse Stock Split Of Its Class A Common Stock
Portfolio Pulse from Benzinga Newsdesk
Momentus has announced a 1-for-50 reverse stock split of its Class A common stock. The split-adjusted trading will commence on August 24, 2023.
August 22, 2023 | 8:58 pm
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NEUTRAL IMPACT
Momentus' 1-for-50 reverse stock split could potentially increase the per-share price, making the stock more attractive to institutional investors. However, it does not change the company's overall market value.
A reverse stock split reduces the number of shares outstanding, which can lead to an increase in the per-share price. This could make the stock more appealing to institutional investors who may have policies against buying stocks below a certain price. However, it's important to note that a reverse stock split does not change the company's overall market value. Therefore, the impact on the stock price in the short term is neutral.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 100