Allarity Therapeutics Implements 1-for-30 Reverse Stock Split To Regain Nasdaq Listing Compliance
Portfolio Pulse from Benzinga Newsdesk
Allarity Therapeutics has implemented a 1-for-30 reverse stock split to regain compliance with Nasdaq's listing requirements. The split was approved by shareholders on September 3, 2024, and took effect on September 11, 2024.
September 11, 2024 | 12:08 pm
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Allarity Therapeutics has executed a 1-for-30 reverse stock split to comply with Nasdaq's listing requirements. This move is aimed at increasing the stock price to meet the minimum bid price rule.
The reverse stock split is a strategic move to increase the share price and meet Nasdaq's minimum bid price requirement, which is crucial for maintaining the listing. This action is likely to stabilize or potentially increase the stock price in the short term as it addresses compliance issues.
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