Reported Friday September 29, Borqs Technologies Announces 1-For-12 Reverse Stock Split Anticipated To Take Effect On October 10, 2023
Portfolio Pulse from Benzinga Newsdesk
Borqs Technologies, Inc. (NASDAQ:BRQS) has announced a 1-for-12 reverse stock split for its common stock, set to take effect on October 10, 2023. Post-split trading on the Nasdaq Capital Market will begin on the same day under a new CUSIP number. Shareholders holding shares in brokerage accounts or 'street name' need not take any action to effect the exchange of their shares following the reverse stock split.
October 02, 2023 | 2:35 pm
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NEUTRAL IMPACT
Borqs Technologies' 1-for-12 reverse stock split may lead to a temporary increase in stock price due to reduced supply. However, the long-term impact will depend on the company's performance.
A reverse stock split reduces the number of shares in circulation, which can lead to a temporary increase in stock price due to reduced supply. However, the long-term impact on the stock price will depend on the company's performance and market conditions.
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