Expion360 shares are trading lower after the company announced it authorized a 1-for-100 reverse stock split.
Portfolio Pulse from Benzinga Newsdesk
Expion360 shares declined following the announcement of a 1-for-100 reverse stock split, which typically reduces the number of shares outstanding and can impact stock price perception.
October 07, 2024 | 1:58 pm
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Expion360's announcement of a 1-for-100 reverse stock split has led to a decrease in its share price. Reverse splits often aim to increase the stock price by reducing the number of shares, but can also signal financial instability.
The reverse stock split reduces the number of shares, which can artificially inflate the stock price but often signals financial distress or attempts to meet listing requirements. This can lead to negative investor sentiment, causing the stock price to drop.
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