Chijet Motor Company Says Shares Will Trade On A Nasdaq 1-for-30 Reverse Split Adjusted Basis Beginning Jul. 8
Portfolio Pulse from Benzinga Newsdesk
Chijet Motor Company announced that its shares will trade on a Nasdaq 1-for-30 reverse split adjusted basis starting July 8.
July 03, 2024 | 12:06 pm
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Chijet Motor Company will implement a 1-for-30 reverse stock split, which will begin trading on a split-adjusted basis on Nasdaq starting July 8.
A reverse stock split reduces the number of shares outstanding, which can increase the stock price proportionally. This move is often seen as a way to meet minimum price requirements for continued listing on exchanges like Nasdaq. However, it does not change the company's market capitalization or fundamentals.
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