Qualigen Therapeutics 1-For-50 Reverse Stock Split, Expected To Begin Trading On Split-Adjusted Basis On November 5, 2024
Portfolio Pulse from Benzinga Newsdesk
Qualigen Therapeutics, Inc. (NASDAQ:QLGN) will implement a 1-for-50 reverse stock split effective November 5, 2024, to regain compliance with Nasdaq's minimum bid price requirement.
November 01, 2024 | 1:01 pm
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Qualigen Therapeutics is conducting a 1-for-50 reverse stock split to increase its stock price and comply with Nasdaq's listing requirements.
The reverse stock split is a strategic move to increase the stock price, which is crucial for maintaining Nasdaq listing. While it doesn't change the company's market value, it can affect investor perception and trading behavior.
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