Reported Friday, Surf Air Mobility Announces 1-For-7 Reverse Split, Shares To Trade On NYSE Adjusted Basis Starting August 19th
Portfolio Pulse from Benzinga Newsdesk
Surf Air Mobility has announced a 1-for-7 reverse stock split, with shares set to trade on an adjusted basis on the NYSE starting August 19th.
August 12, 2024 | 6:45 am
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NEUTRAL IMPACT
Surf Air Mobility has announced a 1-for-7 reverse stock split, with shares set to trade on an adjusted basis on the NYSE starting August 19th.
A reverse stock split typically reduces the number of shares outstanding and increases the stock price proportionally. This can be seen as a move to meet listing requirements or to make the stock more attractive to institutional investors. However, it does not change the company's market capitalization. The neutral score reflects the mixed potential impacts on investor perception.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100