SciSparc shares are trading higher. The company reported its previously announced 1-for-26 reverse share split is expected to be implemented after market close today.
Portfolio Pulse from Benzinga Newsdesk
SciSparc has announced that its previously reported 1-for-26 reverse share split is expected to be implemented after the market closes today. This has led to a rise in the company's share price.
September 27, 2023 | 12:41 pm
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SciSparc's shares are trading higher due to the announcement of a 1-for-26 reverse share split. The split is expected to be implemented after market close today.
A reverse share split reduces the number of shares in circulation, which can lead to an increase in the share price. This is because the earnings per share (EPS) will increase as there are fewer shares. This is likely the reason for the increase in SciSparc's share price.
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