MSP Recovery shares are trading lower after the company announced a 1-for-25 reverse stock split to regain compliance with Nasdaq's minimum bid price requirement.
Portfolio Pulse from Benzinga Newsdesk
MSP Recovery announced a 1-for-25 reverse stock split to regain compliance with Nasdaq's minimum bid price requirement, causing its shares to trade lower.
October 03, 2023 | 8:38 pm
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MSP Recovery's stock price is trading lower after the company announced a 1-for-25 reverse stock split to regain compliance with Nasdaq's minimum bid price requirement.
The announcement of a reverse stock split is often viewed negatively by the market as it indicates that the company is struggling to maintain its stock price. This has led to a decrease in MSP Recovery's stock price.
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IMPORTANCE 80
RELEVANCE 100