Zoomcar Plans To Effect Reverse Stock Split Of Its Issued And Outstanding Shares Of Common Stock At Ratio Of 1-For-100 - Filing
Portfolio Pulse from Benzinga Newsdesk
Zoomcar plans a 1-for-100 reverse stock split effective October 21, 2024, with trading on a split-adjusted basis starting October 22, 2024. The stock will continue trading on Nasdaq under the symbol 'ZCAR'.
October 17, 2024 | 8:45 pm
News sentiment analysis
Sort by:
Ascending
NEUTRAL IMPACT
Zoomcar is implementing a 1-for-100 reverse stock split, effective October 21, 2024. This action will consolidate shares, potentially increasing the stock price per share.
The reverse stock split will reduce the number of shares outstanding, which typically increases the stock price per share. However, the overall market capitalization remains unchanged. This action is often used to meet minimum price requirements for continued listing on exchanges like Nasdaq.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100