Why Genius Group (GNS) Stock Is Down 26%
Portfolio Pulse from Henry Khederian
Genius Group Ltd (NASDAQ:GNS) shares dropped by 26.8% to $0.12 after the company approved a 1-for-10 reverse stock split, effective August 16. The split aims to meet NYSE’s minimum price requirement. Adjustments will be made to equity awards and incentive plans, but the number of authorized shares and their par value will remain unchanged.
August 06, 2024 | 6:24 pm
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Genius Group Ltd (NASDAQ:GNS) shares fell by 26.8% to $0.12 after the company approved a 1-for-10 reverse stock split, effective August 16. The split aims to increase the per share market price to meet NYSE’s minimum price requirement.
The significant drop in share price is a direct reaction to the reverse stock split announcement, which often signals financial distress or an attempt to meet listing requirements. This typically results in short-term negative sentiment among investors.
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