Inno Holdings shares are trading lower after the company announced a 1-for-10 reverse stock split, effective October 10.
Portfolio Pulse from Benzinga Newsdesk
Inno Holdings announced a 1-for-10 reverse stock split, causing its shares to trade lower. The split will be effective on October 10.
October 08, 2024 | 4:19 pm
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Inno Holdings announced a 1-for-10 reverse stock split, leading to a decrease in share price. The split is set to take effect on October 10.
Reverse stock splits often lead to a decrease in share price as they can be perceived negatively by investors, indicating potential financial instability or an attempt to meet listing requirements. The immediate market reaction was a drop in INHD's share price.
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