Connexa Sports Technologies Announces 1-for-20 Reverse Split to Regain Nasdaq Compliance; Effective June 28, 2024
Portfolio Pulse from Benzinga Newsdesk
Connexa Sports Technologies has announced a 1-for-20 reverse stock split effective June 28, 2024, to regain compliance with Nasdaq listing requirements.
June 17, 2024 | 7:45 pm
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Connexa Sports Technologies is implementing a 1-for-20 reverse stock split to meet Nasdaq's listing requirements. This move is aimed at increasing the stock price to avoid delisting.
The reverse stock split is a strategic move to increase the stock price and meet Nasdaq's minimum bid price requirement. While this can prevent delisting, it does not inherently change the company's market value, leading to a neutral short-term impact.
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