Reported Friday September 27, 2024, American Rebel Announced A 1-for-9 Reverse Stock Split, Will Begin Trading On A Reverse Stock Split-Adjusted Basis On Wednesday, October 2, 2024
Portfolio Pulse from Benzinga Newsdesk
American Rebel Holdings, Inc. (NASDAQ:AREB) announced a 1-for-9 reverse stock split to regain compliance with Nasdaq's minimum bid price requirement. The split will be effective on October 2, 2024, reducing outstanding shares from 9.2 million to 1.02 million.
September 30, 2024 | 3:55 pm
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American Rebel Holdings is implementing a 1-for-9 reverse stock split to comply with Nasdaq's $1.00 minimum bid price requirement. This will reduce outstanding shares significantly.
The reverse stock split is a strategic move to increase the stock price by reducing the number of shares, which is crucial for maintaining Nasdaq listing. However, reverse splits can sometimes be perceived negatively by investors, leading to neutral short-term impact.
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