Greenwave Technology Solutions To Implement 1-For-150 Reverse Stock Split; Trading On Split-Adjusted Basis Begins June 3, 2024
Portfolio Pulse from Benzinga Newsdesk
Greenwave Technology Solutions (GWAV) announced a 1-for-150 reverse stock split, with trading on a split-adjusted basis starting June 3, 2024.
May 29, 2024 | 5:31 pm
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Greenwave Technology Solutions (GWAV) is implementing a 1-for-150 reverse stock split, with trading on a split-adjusted basis beginning June 3, 2024. This move is likely aimed at increasing the stock price by reducing the number of shares outstanding.
Reverse stock splits are often used to increase the stock price by reducing the number of shares outstanding. This can be seen as a positive move to meet listing requirements or attract institutional investors, but it can also be perceived negatively if it signals underlying financial issues.
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