Zapp EV Announces 1-For-20 Reverse Stock Split
Portfolio Pulse from Benzinga Newsdesk
Zapp Electric Vehicles Group Limited (NASDAQ:ZAPP), a British electric vehicle brand, announced a 1-for-20 reverse stock split approved by shareholders, effective April 22, 2024. The split-adjusted shares will trade on Nasdaq under the same symbol 'ZAPP' but with a new CUSIP number starting April 23, 2024.
April 16, 2024 | 8:15 pm
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Zapp EV's 1-for-20 reverse stock split aims to consolidate shares, potentially affecting its stock liquidity and market perception.
Reverse stock splits often aim to boost a stock's price or meet exchange listing requirements, which can affect investor perception and stock liquidity. However, the impact on the stock's value is uncertain, as market reaction can vary.
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