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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.
JUSTIN, Texas, Dec. 20, 2024 (GLOBE NEWSWIRE) -- Canoo Inc. (NASDAQ: GOEV), (“Canoo” or the “Company”), an advanced high-tech mobility company, announced today that it will effect a 1-for-20 reverse stock split of its common stock, par value $0.0001 per share (“Common Stock”), that will become effective on December 24, 2024, at 8:00 a.m., Eastern Time (“Effective Date”).
The Company expects that the common stock will begin trading on a split-adjusted basis at the open of trading on Tuesday, November 19, 2024, under the new CUSIP number 67091J 602, and each of the reverse stock splits will be effective as of 5:00 p.m. Eastern Time on November 18, 2024, upon the filing of the applicable certificates with the ...
LifeWallet’s Common Stock will continue to trade on the Nasdaq Global Market (“Nasdaq”) under the symbol “LIFW” and will begin trading on a split-adjusted basis when the Nasdaq opens on November 18, 2024 (“Effective Time”). The new CUSIP number for the Class A common stock following the reverse split will be: 553745-30-8.
The stock has been a multibagger since the company's last traditional split over 20 ... in 2007, which was technically a reverse split. The last traditional split happened in 2000, a 3-for-1 split ...
Companies completing reverse stock splits often do so to avoid delisting from a major stock exchange. What makes Sirius XM unique is it that it was no danger of being booted from the Nasdaq ...