Nikola Corporation Announces 1-For-30 Reverse Stock Split Approved By Board; Effective June 24, 2024, At 4:01 PM ET; Trading On Split-Adjusted Basis Begins June 25, 2024
Portfolio Pulse from Benzinga Newsdesk
Nikola Corporation has announced a 1-for-30 reverse stock split, which has been approved by the board. The split will be effective on June 24, 2024, at 4:01 PM ET, and trading on a split-adjusted basis will begin on June 25, 2024.
June 20, 2024 | 12:05 pm
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Nikola Corporation has announced a 1-for-30 reverse stock split, effective June 24, 2024. Trading on a split-adjusted basis will begin on June 25, 2024.
A reverse stock split typically aims to increase the stock price by reducing the number of shares outstanding. This can be seen as a move to meet listing requirements or improve the stock's appeal. However, it does not change the company's market capitalization. The neutral score reflects the mixed investor sentiment that often accompanies such actions.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100