Datasea Plans 1-For-15 Reverse Stock Split To Regain Compliance With Nasdaq Minimum Bid Requirement
Portfolio Pulse from Benzinga Newsdesk
Datasea Inc. has announced a 1-for-15 reverse stock split to regain compliance with Nasdaq's minimum bid requirement. The reverse stock split is scheduled to take effect on January 19, 2024, with split-adjusted trading under the symbol 'DTSS' starting on January 23, 2024.

January 18, 2024 | 9:42 pm
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Datasea Inc. is undergoing a 1-for-15 reverse stock split to comply with Nasdaq's minimum bid price rules. The split is expected to increase the per-share price, allowing the company to remain listed on the Nasdaq.
Reverse stock splits are typically used by companies to boost their stock price to meet exchange listing requirements. While this does not fundamentally change the company's value, it can sometimes be viewed negatively by the market as it underscores the challenges the company faces in maintaining its stock price. However, in the short term, the impact is likely to be neutral as the split is a technical adjustment to comply with listing requirements.
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