Smart for Life Announces 1-For-7 Reverse Stock Split, Will Begin Trading On A Split-Adjusted Basis When The Market Opens On April 22, 2024
Portfolio Pulse from Benzinga Newsdesk
Smart for Life, Inc. (NASDAQ:SMFL) announced a 1-for-7 reverse stock split effective April 22, 2024, to maintain Nasdaq listing compliance and support future acquisitions. The split-adjusted trading will start on the same date under the same symbol 'SMFL' with a new CUSIP number 83204U608.

April 18, 2024 | 4:10 pm
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Smart for Life, Inc. announces a 1-for-7 reverse stock split effective April 22, 2024, to maintain Nasdaq compliance and attract investors.
Reverse stock splits are often executed to maintain listing compliance and make the stock price more attractive to investors by reducing the number of shares outstanding, which typically increases the per-share price. While this move is strategic for Smart for Life, Inc. to support its future growth and acquisition plans, the immediate market reaction to reverse splits can be mixed. Investors may view it positively as a step towards financial stability and growth or negatively due to the underlying reasons necessitating the split. Therefore, the short-term impact is assessed as neutral until the market fully absorbs the implications.
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