NUBURU shares are trading lower after the company said it will be implementing a 1-for-40 reverse stock split, effective Jun. 24.
Portfolio Pulse from Benzinga Newsdesk
NUBURU shares are trading lower after the company announced a 1-for-40 reverse stock split, effective June 24.
June 13, 2024 | 12:45 pm
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NUBURU shares are trading lower following the announcement of a 1-for-40 reverse stock split, effective June 24. 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 distress.
The announcement of a reverse stock split typically indicates that the company is trying to increase its 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 short-term impact on the stock price.
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