23andMe Announces 1-For-20 Reverse Stock Split Effective October 16
Portfolio Pulse from Benzinga Newsdesk
23andMe has announced a 1-for-20 reverse stock split effective October 16. This corporate action is aimed at increasing the stock price by reducing the number of shares outstanding.
October 11, 2024 | 12:15 pm
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23andMe is implementing a 1-for-20 reverse stock split on October 16 to increase its stock price by reducing the number of shares outstanding.
The reverse stock split is a significant corporate action that typically aims to increase the stock price by consolidating shares. This can make the stock more attractive to investors and help meet listing requirements. The announcement is likely to have a positive short-term impact on the stock price.
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