Amwell Board Approves 1-For-20 Reverse Stock Split Of Its Common Stock, That Is Expected To Become Effective On July 10, 2024
Portfolio Pulse from Benzinga Newsdesk
Amwell's board has approved a 1-for-20 reverse stock split of its common stock, which is expected to become effective on July 10, 2024.
June 28, 2024 | 11:05 am
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Amwell's board has approved a 1-for-20 reverse stock split of its common stock, which is expected to become effective on July 10, 2024. This move is likely aimed at increasing the stock price by reducing the number of shares outstanding.
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 help meet listing requirements. The market may react positively in the short term as it often perceives reverse splits as a sign of a company's efforts to improve its stock performance.
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