Flotek Board Approves 1-for-6 Reverse Stock Split, Effective After Market Close Sept. 25
Portfolio Pulse from Benzinga Newsdesk
Flotek's board has approved a 1-for-6 reverse stock split, which will be effective after the market closes on September 25.
September 14, 2023 | 8:15 pm
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POSITIVE IMPACT
Flotek's 1-for-6 reverse stock split may lead to a temporary increase in the stock price due to reduced supply of shares.
Reverse stock splits reduce the number of shares in circulation, which can lead to a temporary increase in the stock price due to reduced supply. However, the long-term impact depends on the company's fundamentals and market sentiment.
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