Digital Brands Announces 1-for-50 Reverse Stock Split
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Digital Brands Group, Inc. (NASDAQ: DBGI) announced a 1-for-50 reverse stock split effective December 13, 2024, to regain compliance with Nasdaq's $1.00 minimum bid price requirement.
December 11, 2024 | 2:15 pm
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Digital Brands Group is implementing a 1-for-50 reverse stock split to meet Nasdaq's minimum bid price requirement. This move is aimed at preventing delisting by increasing the stock price.
The reverse stock split is a strategic move to increase the stock price and avoid delisting from Nasdaq. While it may stabilize the stock price above $1.00, reverse splits can sometimes be perceived negatively by investors, leading to neutral short-term impact.
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