SenesTech To Effect 1-for-10 Reverse Stock Split; Common Stock To Begin Trading On Split-Adjusted Basis On July 25, 2024
Portfolio Pulse from Benzinga Newsdesk
SenesTech (SNES) announced a 1-for-10 reverse stock split, with its common stock set to begin trading on a split-adjusted basis on July 25, 2024.
July 23, 2024 | 3:30 pm
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SenesTech (SNES) is enacting a 1-for-10 reverse stock split, which will take effect on July 25, 2024. This move is likely aimed at increasing the stock price by reducing the number of shares outstanding.
Reverse stock splits are typically used to boost the stock price by reducing the number of shares outstanding. This can be seen as a positive move to meet listing requirements or attract investors, but it does not change the company's fundamentals.
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