2U Announces 1-For-30 Reverse Stock Split Of Common Shares Following Board Approval, In Line With Range Approved By Shareholders At May 2024 Annual Meeting
Portfolio Pulse from Benzinga Newsdesk
2U, Inc. (TWOU) has announced a 1-for-30 reverse stock split of its common shares following board approval. This move aligns with the range approved by shareholders at the May 2024 annual meeting.
June 10, 2024 | 8:06 pm
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2U, Inc. (TWOU) has announced a 1-for-30 reverse stock split of its common shares following board approval. This move aligns with the range approved by shareholders at the May 2024 annual meeting.
A reverse stock split typically aims to increase the stock price by reducing the number of shares outstanding. This can be seen as a move to meet listing requirements or improve the stock's appeal to investors. However, it does not change the company's market capitalization and can be perceived neutrally by the market.
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