Canoo Announces 1-for-23 Reverse Stock Split Effective March 8, 2024
Portfolio Pulse from Benzinga Newsdesk
Canoo has announced a 1-for-23 reverse stock split effective March 8, 2024. The company's common stock will continue to trade on The Nasdaq Capital Market under the ticker symbol 'GOEV' on a split-adjusted basis starting March 8, 2024. The new CUSIP number for Canoo's Common Stock will be 13803R201.

March 06, 2024 | 11:07 am
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Canoo's 1-for-23 reverse stock split is set to take effect on March 8, 2024, with the stock continuing to trade on Nasdaq under the same ticker symbol 'GOEV'.
Reverse stock splits are typically executed to increase the market price of a company's shares, which can help maintain compliance with exchange listing requirements and improve perception among investors. However, the impact on the stock price in the short term can be neutral as the market adjusts to the new price level. The relevance is high as the news directly involves Canoo's stock, and the importance is significant due to the potential implications for investor perception and compliance with exchange listing standards.
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