Dolphin Entertainment Announces 1-For-2 Reverse Stock Split, Will Trade On A Split-Adjusted Basis As Of The Opening Of Trading On Wednesday, October 16, 2024
Portfolio Pulse from Benzinga Newsdesk
Dolphin Entertainment, Inc. (NASDAQ:DLPN) announced a 1-for-2 reverse stock split effective October 16, 2024, to regain compliance with NASDAQ's $1.00 minimum bid price requirement. The stock will trade on a split-adjusted basis starting that day.
October 14, 2024 | 1:19 pm
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Dolphin Entertainment is implementing a 1-for-2 reverse stock split to comply with NASDAQ's $1.00 minimum bid price requirement. This move aims to stabilize the stock price and provide flexibility for future business and financial strategies.
The reverse stock split is a strategic move to meet NASDAQ's listing requirements, which could stabilize the stock price. However, reverse splits can sometimes be perceived negatively by investors, leading to neutral short-term impact.
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