Cyngn To Go ahead With 1-for-100 Reverse Stock split
Portfolio Pulse from Benzinga Newsdesk
Cyngn has announced a 1-for-100 reverse stock split, which will consolidate every 100 shares of its common stock into one share. This move is typically aimed at increasing the stock price by reducing the number of shares outstanding.
July 02, 2024 | 11:05 am
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Cyngn has announced a 1-for-100 reverse stock split, which will consolidate every 100 shares of its common stock into one share. This move is typically aimed at increasing the stock price by reducing the number of shares outstanding.
A reverse stock split is often used by companies to increase the per-share price of their stock. This can make the stock more attractive to investors and help the company meet listing requirements. However, it does not change the company's market capitalization.
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