AVROBIO Shareholders Approved Effecting Reverse Split At Ration In Range Of 1:3 And 1:30
Portfolio Pulse from Benzinga Newsdesk
AVROBIO shareholders have approved a reverse stock split at a ratio ranging between 1:3 and 1:30.
June 14, 2024 | 8:35 pm
News sentiment analysis
Sort by:
Ascending
NEUTRAL IMPACT
AVROBIO shareholders have approved a reverse stock split at a ratio between 1:3 and 1:30. This action is typically taken to increase the stock price by reducing the number of shares outstanding.
A reverse stock split is often used to boost the stock price by reducing the number of shares outstanding. This can make the stock more attractive to institutional investors and meet listing requirements, but it does not change the company's market capitalization.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100