Onconetix Announces Stockholder Approval Of 1-For-40 Reverse Stock Split, Effective September 24, 2024
Portfolio Pulse from Benzinga Newsdesk
Onconetix has announced that its stockholders have approved a 1-for-40 reverse stock split, which will be effective on September 24, 2024. This corporate action is likely to impact the stock's trading dynamics.
September 20, 2024 | 3:46 pm
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NEUTRAL IMPACT
Onconetix's 1-for-40 reverse stock split has been approved by stockholders and will take effect on September 24, 2024. This move is expected to consolidate shares and potentially impact the stock's liquidity and price.
The reverse stock split will reduce the number of shares outstanding, which can lead to a higher stock price per share. However, it may also affect liquidity and investor perception. The impact on the stock price is uncertain in the short term, hence a neutral score.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100