J-Long Group Limited Announces Share Consolidation/Reverse Stock Split to Regain NASDAQ Compliance
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J-Long Group Limited (Nasdaq: JL) announced a 1-for-10 reverse stock split to regain compliance with Nasdaq's minimum bid price requirement. The split will be effective on December 3, 2024, with trading on a split-adjusted basis starting December 4, 2024.
November 22, 2024 | 3:30 pm
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J-Long Group Limited is implementing a 1-for-10 reverse stock split to comply with Nasdaq's minimum bid price rule. This move is aimed at increasing the stock price to meet the $1.00 requirement.
The reverse stock split is a strategic move to increase the stock price and meet Nasdaq's listing requirements. This could lead to a short-term increase in stock price due to the reduced number of shares and potential renewed investor interest.
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