What's Going On With MicroCloud Hologram Stock?
Portfolio Pulse from Erica Kollmann
MicroCloud Hologram Inc. (NASDAQ:HOLO) shares are declining after shareholders approved a 1-for-20 reverse stock split to meet Nasdaq's minimum bid price requirement. The stock will trade on a split-adjusted basis starting October 9, 2024. The reverse split will significantly reduce the number of outstanding shares.
October 03, 2024 | 3:11 pm
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MicroCloud Hologram's shares are falling after a 1-for-20 reverse stock split was approved to comply with Nasdaq's listing requirements. The stock will trade on a split-adjusted basis from October 9, 2024.
The reverse stock split is a significant corporate action aimed at increasing the stock price to meet Nasdaq's minimum bid requirement. Such actions often lead to a short-term decline in stock price due to perceived financial instability or dilution concerns.
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