Finance Of America Expects Its Intended 1-For-10 Reverse Stock Split To Be Effective As Of July 25, 2024
Portfolio Pulse from Benzinga Newsdesk
Finance Of America (FOA) has announced that its intended 1-for-10 reverse stock split is expected to be effective as of July 25, 2024.
July 15, 2024 | 9:45 pm
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Finance Of America (FOA) has announced a 1-for-10 reverse stock split, which is expected to be effective on July 25, 2024. This move is typically aimed at increasing the stock price by reducing the number of shares outstanding.
A reverse stock split reduces the number of shares outstanding, which can increase the stock price. However, it does not change the company's market capitalization. Investors may view this as a neutral event in the short term, as it is often used to meet listing requirements or improve the stock's perception.
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