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Image source: Luminar Technologies. Why companies perform reverse stock splits. The Nasdaq stock exchange requires listed companies to maintain a share price of at least $1 per share.
Sirius XM is the only high-profile stock-split stock of 2024 that completed a reverse split (1-for-10). Benchmark analyst Matthew Harrigan believes shares of Sirius XM are headed to $43.
There have been more than 450 forward stock splits year to date, including reverse stock splits. Additional stock splits are on the way in the next few weeks. Lam Research (NASDAQ: LRCX) conducted ...
The reverse stock split is primarily intended to enable the Company to regain compliance with the $1.00 minimum bid price required for continued listing on The Nasdaq Capital Market. The new CUSIP number for the Company’s common stock following the reverse stock split will be 73102V204.
The "reverse stock split" appellation is a reference to the more common stock split in which shares are effectively divided to form a larger number of proportionally less valuable shares. New shares are typically issued in a simple ratio, e.g. 1 new share for 2 old shares, 3 for 4, etc. A reverse split is the opposite of a stock split.
The reverse stock splits were approved at a Special Meeting of Stockholders, held on October 1, 2024, and the reverse stock split of the common stock is intended to bring the Company into compliance with Nasdaq’s $1.00 per share minimum bid price requirement for continued listing on the Nasdaq Capital Market.
A company may use a reverse split to push its stock price back over a certain threshold, typically $1 per share, in order to maintain compliance with an exchange’s rules. To raise the stock price.
The reverse split was approved by the Company’s shareholders on November 25, 2024 and will be effective as of the commencement of trading on December 5, 2024. The reverse stock split is being implemented for the purpose of complying with the closing bid price requirement set forth in Nasdaq Listing Rule 5550(a)(2). ABOUT AGRIFORCE