VivoPower shares are trading lower amid continued downward momentum after the company earlier in the week announced a 1-for-10 reverse stock split, which was effected today.
Portfolio Pulse from Benzinga Newsdesk
VivoPower shares are trading lower due to continued downward momentum following the company's announcement of a 1-for-10 reverse stock split, which was effected today.
October 06, 2023 | 4:08 pm
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VivoPower's stock is trading lower following the company's 1-for-10 reverse stock split.
Reverse stock splits are often used by companies to boost their share price and avoid delisting from stock exchanges. However, they can also be viewed negatively by investors as they indicate that the company has been struggling to maintain its share price. This negative perception could be driving the downward momentum in VivoPower's stock.
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