Intelligent Bio Solutions shares are trading lower after the company announced a 1-for-12 reverse stock split.
Portfolio Pulse from Benzinga Newsdesk
Intelligent Bio Solutions (INBS) announced a 1-for-12 reverse stock split, causing its shares to trade lower.
January 25, 2024 | 8:08 pm
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Intelligent Bio Solutions' stock is trading lower due to the announcement of a 1-for-12 reverse stock split.
Reverse stock splits often signal that a company's shares are trading at low prices and the company is trying to boost the share price to meet exchange listing requirements or to improve perception. Such actions typically lead to negative investor sentiment in the short term, as they can be interpreted as a lack of company growth or financial stability.
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