Blue Star Foods To Effect A 1-For-50 Reverse Stock Split, Will Begin Trading On A Split-adjusted Basis When The Market Opens On May 20, 2024
Portfolio Pulse from Benzinga Newsdesk
Blue Star Foods Corp. (NASDAQ: BSFC) will implement a 1-for-50 reverse stock split of its Class A common stock, effective May 20, 2024. The stock will trade on a split-adjusted basis under the same symbol, BSFC, starting on that date.
May 15, 2024 | 4:01 pm
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Blue Star Foods Corp. (NASDAQ: BSFC) will implement a 1-for-50 reverse stock split effective May 20, 2024. The stock will trade on a split-adjusted basis under the same symbol, BSFC, starting on that date. This move is likely aimed at increasing the stock price by reducing the number of shares outstanding.
The reverse stock split will reduce the number of shares outstanding, which typically increases the stock price. However, the overall market reaction can vary, and the long-term impact will depend on the company's performance post-split.
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