December 15th - $Virax Biolabs (VRAX.US)$ is about to implement a 1-for-10 reverse stock split of shares. The shares will begin trading on a split-adjusted basis from December 18th, 2023.
$Virax Biolabs (VRAX.US)$ rose 4.72% and closed at $0.1643 on December 14th with a turnover of $68,003. $Virax Biolabs (VRAX.US)$ now has a total market capitalization of $2.93 million.
What Is a Reverse Stock Split?
A reverse stock split consolidates the number of existing shares of stock held by shareholders into fewer shares. It does not directly impact a company's value. And it can signal a company in distress since it raises the value of otherwise low-priced shares.
Note:
The company's actual implementation is subject to the final disclosure submitted to the exchange. The information provided herein is for reference only.