Volcon Announces 1-For-100 Reverse Stock Split, Will Open For Trading On The Nasdaq Capital Market On June 7, 2024 On A Post-Split Basis
Portfolio Pulse from Benzinga Newsdesk
Volcon Inc. (NASDAQ:VLCN) announced a 1-for-100 reverse stock split, effective June 6, 2024. The stock will trade on a post-split basis on Nasdaq starting June 7, 2024, under the same ticker symbol but with a new CUSIP number.
June 05, 2024 | 12:22 pm
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Volcon Inc. is implementing a 1-for-100 reverse stock split, effective June 6, 2024. The stock will trade on a post-split basis on Nasdaq starting June 7, 2024, under the same ticker symbol but with a new CUSIP number.
Reverse stock splits are often perceived negatively by investors as they can indicate financial distress or efforts to meet listing requirements. This could lead to a short-term decline in VLCN's stock price.
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