22nd Century Will Effect A Reverse Stock Split At A Ratio Of 1-for-16, Effective At Market Open On Tuesday, April 2, 2024
Portfolio Pulse from Benzinga Newsdesk
22nd Century announced a reverse stock split at a ratio of 1-for-16, effective at market open on Tuesday, April 2, 2024.
March 28, 2024 | 10:37 am
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22nd Century's reverse stock split at a 1-for-16 ratio will reduce the number of shares outstanding, potentially increasing the stock price.
Reverse stock splits reduce the number of shares outstanding, which can lead to an increase in the stock price due to a perceived increase in value per share. However, the market's reaction can vary based on the reasons behind the split and overall market conditions.
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