Ashford Hospitality shares are trading lower. The company announced it intends to execute a 1-for-10 reverse stock split in order to regain NYSE compliance.
Portfolio Pulse from Benzinga Newsdesk
Ashford Hospitality Trust (AHT) shares are declining following the announcement of a 1-for-10 reverse stock split aimed at regaining NYSE compliance.
September 27, 2024 | 4:43 pm
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Ashford Hospitality Trust (AHT) is implementing a 1-for-10 reverse stock split to meet NYSE compliance requirements, causing its shares to trade lower.
The announcement of a reverse stock split often signals financial distress or an attempt to meet listing requirements, which can lead to negative investor sentiment and a decline in stock price. The immediate market reaction is a drop in AHT's share price.
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