Lucy Scientific Discovery Announces 1-For-10 Reverse Stock Split
Portfolio Pulse from Benzinga Newsdesk
Lucy Scientific Discovery has announced a 1-for-10 reverse stock split, effectively consolidating ten shares into one. This corporate action is typically undertaken to boost the stock's market price and comply with exchange listing requirements.
February 16, 2024 | 9:07 pm
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Lucy Scientific Discovery's 1-for-10 reverse stock split is expected to increase the market price of its shares, potentially improving its compliance with exchange listing requirements.
Reverse stock splits are often executed to increase the per-share price, making the stock more attractive to investors and ensuring compliance with stock exchange minimum price requirements. While this does not change the company's market capitalization, it can positively impact the stock's perception among investors and its eligibility for inclusion in certain investment portfolios.
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