Psychemedics Corporation Announces Reverse and Forward Stock Split
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Psychemedics Corporation announced a reverse and forward stock split, approved by stockholders, to be effective on December 3, 2024. The stock will continue trading under the symbol PMD on a post-split basis.
December 02, 2024 | 1:30 pm
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NEUTRAL IMPACT
Psychemedics Corporation is implementing a 1-for-5,000 reverse stock split followed by a 5,000-for-1 forward stock split, effective December 3, 2024. This action is likely to streamline the number of small shareholders and reduce administrative costs.
The reverse and forward stock split is a technical move that does not change the overall value of the company but may reduce the number of small shareholders and administrative costs. The stock will continue to trade under the same symbol, PMD, which suggests no immediate impact on stock price.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 100