23andMe shares are trading lower. The company announced a 1-for-20 reverse stock split, effective October 16.
Portfolio Pulse from Benzinga Newsdesk
23andMe announced a 1-for-20 reverse stock split, effective October 16, causing its shares to trade lower.
October 11, 2024 | 1:18 pm
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23andMe's shares are trading lower following the announcement of a 1-for-20 reverse stock split, effective October 16.
The announcement of a reverse stock split often indicates a company is trying to boost its stock price by reducing the number of shares outstanding. This can be perceived negatively by investors, leading to a drop in share price as seen with 23andMe.
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