Velo3D Announces 1-For-35 Reverse Stock Split, Will Open For Trading On Thursday, June 13, 2024, On A Split-Adjusted Basis
Portfolio Pulse from Benzinga Newsdesk
Velo3D, Inc. (VLD) has announced a 1-for-35 reverse stock split, effective June 13, 2024, to regain compliance with NYSE's minimum share price requirements. The stock will trade on a split-adjusted basis under the same symbol, VLD.
June 11, 2024 | 12:09 pm
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Velo3D, Inc. (VLD) has announced a 1-for-35 reverse stock split to regain compliance with NYSE's minimum share price requirements. The stock will trade on a split-adjusted basis starting June 13, 2024.
The reverse stock split is a strategic move to meet NYSE's listing requirements, which could stabilize the stock price in the short term. However, reverse splits can sometimes be perceived negatively by investors, leading to neutral short-term price impact.
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