Pineapple Energy Announces 1-For-15 Reverse Stock Split, Expected To Open For Trading On Nasdaq On June 12, 2024 On A Post-Split Basis
Portfolio Pulse from Benzinga Newsdesk
Pineapple Energy Inc. (NASDAQ:PEGY) announced a 1-for-15 reverse stock split effective June 12, 2024, to regain compliance with Nasdaq listing requirements. The stock will trade on a post-split basis under the same symbol.
June 10, 2024 | 12:06 pm
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Pineapple Energy Inc. (NASDAQ:PEGY) will implement a 1-for-15 reverse stock split on June 12, 2024, to increase its market price per share and regain Nasdaq compliance.
The reverse stock split is intended to increase the market price per share, which is a positive move to regain compliance with Nasdaq listing requirements. This could lead to a short-term increase in stock price due to improved investor sentiment.
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