Freight Technologies shares are trading lower after the company announced a 1-for-25 reverse stock split.
Portfolio Pulse from Benzinga Newsdesk
Freight Technologies announced a 1-for-25 reverse stock split, leading to a decline in its share price.
September 23, 2024 | 2:10 pm
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Freight Technologies' shares are trading lower after the company announced a 1-for-25 reverse stock split. This type of corporate action often indicates financial restructuring and can lead to a decrease in stock price due to perceived instability.
The announcement of a reverse stock split typically signals that a company is attempting to boost its stock price by reducing the number of shares outstanding. This can be perceived negatively by investors as it may indicate underlying financial issues, leading to a decrease in stock price.
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