December 29th - $Pasithea Therapeutics (KTTA.US)$ is about to implement a 1-for-20 reverse stock split of shares. The shares will begin trading on a split-adjusted basis from January 2nd, 2024.
$Pasithea Therapeutics (KTTA.US)$ slipped 4.88% and closed at $0.39 on December 28th with a turnover of $118.52K. $Pasithea Therapeutics (KTTA.US)$ now has a total market capitalization of $8.12 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.