Genprex Announces 1-for-40 Reverse Stock Split Effective February 2, 2024
Portfolio Pulse from Benzinga Newsdesk
Genprex, Inc. has announced a 1-for-40 reverse stock split that will take effect on February 2, 2024. This corporate action is typically used by companies to boost the share price by reducing the number of shares outstanding, which may help to meet minimum bid price requirements of stock exchanges.
January 31, 2024 | 1:45 pm
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Genprex's reverse stock split is likely to increase the nominal share price by reducing the number of shares available. This could make the stock more appealing to institutional investors and help maintain listing requirements.
Reverse stock splits are often executed to increase the share price of a company, making it more attractive to investors and compliant with exchange listing standards. While this can be seen as a positive move in the short term, it may also reflect underlying issues with the company's market value or performance. Investors typically view reverse splits with caution, as they do not change the company's market capitalization but can lead to increased volatility.
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