XWELL, Announces 1-for-20 Reverse Stock Split
Portfolio Pulse from Benzinga Newsdesk
XWELL has announced a 1-for-20 reverse stock split.
September 27, 2023 | 12:01 pm
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NEUTRAL IMPACT
XWELL has announced a 1-for-20 reverse stock split, which will reduce the number of shares outstanding and increase the stock price.
A reverse stock split reduces the number of shares outstanding, which can increase the stock price. However, it does not change the company's overall market value. Therefore, the impact on the stock price is neutral in the short term.
CONFIDENCE 100
IMPORTANCE 80
RELEVANCE 100