Galecto Announces 1-for-25 Reverse Stock Split, Effective 5:00 p.m. ET On Aug. 29
Portfolio Pulse from Benzinga Newsdesk
Galecto, Inc. has announced a 1-for-25 reverse stock split, effective at 5:00 p.m. ET on August 29. This corporate action is aimed at increasing the per-share trading price of its common stock.
August 28, 2024 | 1:01 pm
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Galecto, Inc. is implementing a 1-for-25 reverse stock split to increase its per-share trading price. This action is effective at 5:00 p.m. ET on August 29.
The reverse stock split is a common strategy to increase the per-share price, often used to meet minimum price requirements for stock exchanges. While it doesn't change the company's market capitalization, it can affect investor perception and trading dynamics.
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