Why Velo3D (VLD) Shares Are Trading Lower
Portfolio Pulse from Henry Khederian
Velo3D Inc (NYSE:VLD) shares dropped by 10.7% to $0.13 after announcing a 1-for-35 reverse stock split to meet NYSE's minimum share price requirements. The split will be effective from June 13. VLD shares have lost 94.3% year to date.
June 11, 2024 | 4:31 pm
News sentiment analysis
Sort by:
Ascending
NEGATIVE IMPACT
Velo3D shares fell 10.7% to $0.13 after announcing a 1-for-35 reverse stock split to meet NYSE's minimum share price requirements. The split will be effective from June 13. VLD shares have lost 94.3% year to date.
The reverse stock split is a significant corporate action aimed at meeting NYSE's minimum share price requirements. However, the immediate market reaction has been negative, with shares dropping 10.7%. The stock has also significantly underperformed year to date, losing 94.3%, which adds to the negative sentiment.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100