Glucotrack Plans 1-For-5 Reverse Stock Split To Become Effective As Of The Opening Of Trading On May 20, 2024
Portfolio Pulse from Benzinga Newsdesk
Glucotrack has announced a 1-for-5 reverse stock split, which will become effective at the opening of trading on May 20, 2024.
May 15, 2024 | 8:20 pm
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Glucotrack has announced a 1-for-5 reverse stock split, effective at the opening of trading on May 20, 2024. This move is likely aimed at increasing the stock price by reducing the number of shares outstanding.
A reverse stock split reduces the number of shares outstanding, which can increase the stock price. However, it does not change the company's market capitalization. The impact on the stock price will depend on investor perception and market conditions.
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