NUBURU Will Be Implementing A 1-For-40 Reverse Stock Split Of Outstanding Stock Effective June 24, 2024
Portfolio Pulse from Benzinga Newsdesk
NUBURU will implement a 1-for-40 reverse stock split of its outstanding stock effective June 24, 2024.
June 13, 2024 | 12:44 pm
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NUBURU will implement a 1-for-40 reverse stock split of its outstanding stock effective June 24, 2024. This action is typically taken to increase the stock price by reducing the number of shares outstanding.
A reverse stock split reduces the number of shares outstanding, which can increase the stock price. However, it does not change the company's market capitalization. The impact on the stock price in the short term is uncertain as it depends on market perception.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 100