Desktop Metal Announces 1-For-10 Reverse Stock Split, Trading On Split-Adjusted Basis Begins June 11, 2024
Portfolio Pulse from Benzinga Newsdesk
Desktop Metal (DM) has announced a 1-for-10 reverse stock split, with trading on a split-adjusted basis beginning on June 11, 2024.
June 07, 2024 | 6:29 pm
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Desktop Metal (DM) has announced a 1-for-10 reverse stock split, with trading on a split-adjusted basis starting June 11, 2024. This move is often 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 in the short term is uncertain as it depends on investor perception.
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