Ashford Hospitality Trust Announces Details For 1-For-10 Reverse Stock Split, Anticipated To Commence Trading On The NYSE On October 28, 2024 On The Split-adjusted Basis
Portfolio Pulse from Benzinga Newsdesk
Ashford Hospitality Trust, Inc. (NYSE:AHT) announced a 1-for-10 reverse stock split, effective October 25, 2024. Trading on a split-adjusted basis will begin on October 28, 2024. The Board approved the split without requiring stockholder approval.
October 15, 2024 | 8:20 pm
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NEUTRAL IMPACT
Ashford Hospitality Trust is implementing a 1-for-10 reverse stock split, effective October 25, 2024. This move is likely to impact the stock's liquidity and market perception.
The reverse stock split will reduce the number of shares outstanding, potentially increasing the stock price and altering liquidity. Such actions can affect market perception, but the overall value of the company remains unchanged. The neutral score reflects the uncertainty in short-term price movement post-split.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100