Alternus Clean Energy shares are trading lower after the company announced a 1-for-25 reverse stock split as part of its Nasdaq compliance plan.
Portfolio Pulse from Benzinga Newsdesk
Alternus Clean Energy's shares fell following the announcement of a 1-for-25 reverse stock split, a move aimed at meeting Nasdaq compliance requirements.
October 09, 2024 | 12:53 pm
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Alternus Clean Energy announced a 1-for-25 reverse stock split to comply with Nasdaq listing requirements, leading to a drop in share price.
The reverse stock split is a significant corporate action aimed at maintaining Nasdaq listing, but such actions often lead to a negative short-term market reaction as they can be perceived as a sign of financial distress or an attempt to artificially inflate the stock price.
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