Maxeon shares are trading lower after the company said it is proceeding with an approved reverse stock split.
Portfolio Pulse from Benzinga Newsdesk
Maxeon shares are declining following the company's announcement of an approved reverse stock split.
September 23, 2024 | 11:52 am
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Maxeon shares are trading lower after the company announced it is proceeding with an approved reverse stock split. This action typically consolidates shares, which can lead to a temporary decrease in stock price due to market perception.
Reverse stock splits often lead to a decrease in stock price as they can be perceived negatively by investors. The announcement of the reverse split has already resulted in a decline in Maxeon's share price, indicating a short-term negative impact.
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