Pineapple Energy shares are trading lower after the company announced a 1-for-15 reverse stock split.
Portfolio Pulse from Benzinga Newsdesk
Pineapple Energy shares are trading lower following the company's announcement of a 1-for-15 reverse stock split.
June 10, 2024 | 3:34 pm
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Pineapple Energy shares are trading lower after the company announced a 1-for-15 reverse stock split. This move is often seen as a way to boost the stock price by reducing the number of shares outstanding, but it can also signal financial instability.
The announcement of a reverse stock split typically aims to increase the stock price by reducing the number of shares outstanding. However, it can also be perceived as a sign of financial trouble, leading to a negative market reaction. The immediate drop in share price reflects investor concerns.
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