What's Going On With Nuvve Stock?
Portfolio Pulse from Erica Kollmann
Nuvve Holding Corp. (NASDAQ:NVVE) shares rose after a 1-for-10 reverse stock split, reducing outstanding shares significantly. Despite a 90% year-to-date decline, the stock saw increased trading volume and a price spike. The RSI indicates neutral conditions.
September 18, 2024 | 3:56 pm
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POSITIVE IMPACT
Nuvve's stock rose following a 1-for-10 reverse split, reducing outstanding shares from 6.5 million to over 530,000. Despite a 90% YTD decline, the stock saw increased trading volume and a price spike, reaching $7.60 intraday.
The reverse split reduced the number of shares, which often leads to a temporary increase in stock price due to perceived scarcity. The significant YTD decline and current RSI suggest potential volatility, but the immediate impact is positive.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100