Connexa Sports Technologies Announces 1-For-20 Reverse Stock Split, Will Begin Trading On A Reverse Split-adjusted Basis When The Market Opens On June 27, 2024
Portfolio Pulse from Benzinga Newsdesk
Connexa Sports Technologies Inc. (NASDAQ:YYAI) announced a 1-for-20 reverse stock split, effective June 27, 2024. The stock will trade on a reverse split-adjusted basis starting that day.
June 25, 2024 | 4:06 pm
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Connexa Sports Technologies Inc. (NASDAQ:YYAI) will undergo a 1-for-20 reverse stock split, effective June 27, 2024. This action will reduce the number of outstanding shares to 2,042,669 and the stock will trade on a reverse split-adjusted basis starting that day.
A reverse stock split typically aims to increase the stock price by reducing the number of shares outstanding. This can make the stock more attractive to institutional investors and meet listing requirements. However, it does not change the company's market capitalization. The neutral score reflects the balance of potential positive and negative investor reactions.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100