Phunware Announces 1-For-50 Reverse Stock Split
Portfolio Pulse from Benzinga Newsdesk
Phunware has announced a 1-for-50 reverse stock split, a move typically aimed at increasing the market price of a company's shares. This action could affect the stock's liquidity and market perception.
February 23, 2024 | 1:30 pm
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Phunware's 1-for-50 reverse stock split is intended to increase its share price, potentially impacting investor perception and stock liquidity.
Reverse stock splits are often executed to increase the per-share price, which can make the stock more appealing to certain investors and possibly meet exchange listing requirements. However, the market's reaction can vary, and it's not always guaranteed to have a positive impact on the stock's value or investor perception in the short term.
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