Azitra Announces 1-For-30 Reverse Stock Split, Will Become Effective On July 1, 2024
Portfolio Pulse from Benzinga Newsdesk
Azitra, Inc. (NYSE:AZTR) will implement a 1-for-30 reverse stock split effective July 1, 2024. The stock will trade on a split-adjusted basis starting that day.
June 27, 2024 | 8:08 pm
News sentiment analysis
Sort by:
Descending
NEUTRAL IMPACT
Azitra, Inc. will undergo a 1-for-30 reverse stock split effective July 1, 2024. This action is likely aimed at increasing the stock price by reducing the number of shares outstanding.
Reverse stock splits are typically executed to increase the per-share price of a stock. While this does not change the company's market capitalization, it can make the stock more attractive to certain investors. However, it can also be seen as a sign of underlying issues, which may neutralize the immediate impact on the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100