Lucy Scientific Discovery Shares Were Halted Friday Ahead Of 1-for-10 Reverse Stock Split To Go Into Effect Monday February 26, 2023 At The Market Open
Portfolio Pulse from Charles Gross
Shares of Lucy Scientific Discovery were halted on Friday in anticipation of a 1-for-10 reverse stock split. This corporate action is typically undertaken by companies aiming to increase their share price by reducing the number of shares outstanding.
February 25, 2024 | 3:14 pm
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Lucy Scientific Discovery's shares were halted in anticipation of a 1-for-10 reverse stock split, a move aimed at increasing the share price.
Reverse stock splits are often executed to increase the market price of a company's shares, making them more appealing to investors and possibly leading to a positive short-term price movement. However, the long-term impact depends on the company's performance and market perception.
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