Pineapple Energy Announces Previously Approved 1-For-50 Reverse Stock Split, Effective October 17, 2024
Portfolio Pulse from Benzinga Newsdesk
Pineapple Energy Inc. (NASDAQ:PEGY) will implement a 1-for-50 reverse stock split on October 17, 2024, to increase its stock price and maintain Nasdaq listing compliance.
October 15, 2024 | 12:21 pm
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Pineapple Energy is executing a 1-for-50 reverse stock split to increase its share price and comply with Nasdaq's minimum bid price requirement.
The reverse stock split is a strategic move to increase the stock price, which is crucial for maintaining Nasdaq listing. This action is likely to positively impact the stock price in the short term as it addresses compliance issues.
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