Charles & Colvard Announces 1-for-10 Reverse Stock Split Effective May 17, 2024; Aims To Comply With Nasdaq's $1.00 Minimum Bid Price Requirement; Split-Adjusted Trading To Begin On May 17, 2024
Portfolio Pulse from Benzinga Newsdesk
Charles & Colvard has announced a 1-for-10 reverse stock split effective May 17, 2024, to comply with Nasdaq's $1.00 minimum bid price requirement. Split-adjusted trading will begin on the same day.
May 15, 2024 | 12:56 pm
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Charles & Colvard is implementing a 1-for-10 reverse stock split to comply with Nasdaq's $1.00 minimum bid price requirement. This move is aimed at maintaining its listing on the exchange.
The reverse stock split is a strategic move to comply with Nasdaq's listing requirements. While it does not change the company's market capitalization, it may affect investor perception and trading activity in the short term.
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