What's Going On With Maxeon Solar Stock Monday?
Portfolio Pulse from Dylan Berman
Maxeon Solar Technologies (NASDAQ:MAXN) shares are declining after announcing a 1-for-100 reverse stock split to avoid Nasdaq delisting due to low trading prices. The company aims to meet the $1 minimum bid price requirement.
September 23, 2024 | 2:43 pm
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Maxeon Solar Technologies announced a 1-for-100 reverse stock split to address Nasdaq's delisting warning due to low trading prices. The stock is down 9.62% as the company aims to meet the $1 minimum bid price requirement.
The reverse stock split is a direct response to Nasdaq's delisting warning, indicating financial distress. The stock's decline reflects investor concern over the company's ability to meet the $1 minimum bid price requirement.
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