AYRO Intends To Effect A Reverse Stock Split Of Its Common Stock At A Ratio Of 1 Post-Split Share For Every 8 Pre-Split Shares; Common Stock Will Begin Trading On Split-Adjusted Basis On Sept. 18
Portfolio Pulse from Benzinga Newsdesk
AYRO Inc. has announced a reverse stock split of its common stock at a ratio of 1 post-split share for every 8 pre-split shares. The common stock will begin trading on a split-adjusted basis from September 18.
September 15, 2023 | 4:36 pm
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NEUTRAL IMPACT
AYRO Inc. is undergoing a 1-for-8 reverse stock split, which will reduce the number of outstanding shares and potentially increase the stock price.
A reverse stock split reduces the number of shares in circulation, which can lead to an increase in the stock price. However, the impact on the company's market value remains neutral as the overall equity remains the same. The market's reaction to such actions can vary, hence the neutral score.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100