Bakkt Announces 1-for-25 Reverse Stock Split, Expected To Begin Trading On Reverse Split-Adjusted Basis On April 29
Portfolio Pulse from Benzinga Newsdesk
Bakkt has announced a 1-for-25 reverse stock split, with trading on a reverse split-adjusted basis expected to start on April 29. This move is typically aimed at increasing the market price of a company's shares, potentially to comply with exchange listing requirements or to attract a broader range of investors.
April 23, 2024 | 8:47 pm
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Bakkt's 1-for-25 reverse stock split aims to increase its share price, potentially improving its compliance with exchange listing requirements and making its stock more attractive to investors.
Reverse stock splits are often executed to increase the per-share price, which can help a company meet exchange listing requirements and make the stock more appealing to a wider range of investors. For Bakkt, this move could lead to increased investor interest and potentially stabilize or increase its stock price in the short term.
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