Oblong Announces 1-For-40 Reverse Stock Split, Effective August 23, 2024
Portfolio Pulse from Benzinga Newsdesk
Oblong, Inc. (NASDAQ:OBLG) announced a 1-for-40 reverse stock split, effective August 23, 2024. The split-adjusted shares will begin trading on August 26, 2024.

August 22, 2024 | 12:02 pm
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Oblong, Inc. is implementing a 1-for-40 reverse stock split, effective August 23, 2024. This move is likely aimed at increasing the stock price by reducing the number of shares outstanding.
The reverse stock split is a significant corporate action that will reduce the number of shares outstanding, potentially increasing the stock price. However, reverse splits can sometimes be perceived negatively by investors as they may indicate underlying financial issues. The neutral score reflects the uncertainty of investor reaction.
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IMPORTANCE 80
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