Reported Earlier, MultiPlan Announces 1-for-40 Reverse Stock Split, Effective September 23, 2024
Portfolio Pulse from Benzinga Newsdesk
MultiPlan announced a 1-for-40 reverse stock split effective September 23, 2024, reducing its outstanding shares from approximately 658 million to 16 million.
September 11, 2024 | 7:36 am
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MultiPlan is implementing a 1-for-40 reverse stock split, reducing its outstanding shares significantly. This move is often used to increase the stock price by reducing the number of shares available.
The reverse stock split will reduce the number of shares, which typically leads to an increase in the stock price per share. This is often done to meet listing requirements or to make the stock more attractive to investors. The significant reduction in shares from 658 million to 16 million suggests a strategic move to enhance the stock's market perception.
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