BioCardia shares are trading lower after the company announced a reverse stock split of its common stock at a ratio of 1 post-split share for every 15 pre-split shares.
Portfolio Pulse from Benzinga Newsdesk
BioCardia shares are trading lower following the company's announcement of a reverse stock split at a ratio of 1 post-split share for every 15 pre-split shares.
May 22, 2024 | 4:40 pm
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NEGATIVE IMPACT
BioCardia shares are trading lower after the company announced a reverse stock split of its common stock at a ratio of 1 post-split share for every 15 pre-split shares.
Reverse stock splits are often perceived negatively by investors as they can indicate underlying financial issues. This announcement has led to a decline in BioCardia's share price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100