Color Star Technology Announces 100-for-1 Reverse Share Split
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Color Star Technology Co., Ltd. (Nasdaq: ADD) announced a 100-for-1 reverse share split for its Class A and Class B ordinary shares, effective November 15, 2024.
November 13, 2024 | 2:15 pm
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Color Star Technology is implementing a 100-for-1 reverse share split, which will consolidate its shares and potentially impact its stock price.
A reverse share split reduces the number of shares outstanding, which can lead to an increase in the stock price per share. However, it may also signal financial distress or an attempt to meet listing requirements, potentially leading to negative investor sentiment.
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