May 16th - $Blue Star Foods (BSFC.US)$ is about to implement a 1-for-50 reverse stock split of shares. The shares will begin trading on a split-adjusted basis from May 20th, 2024.
$Blue Star Foods (BSFC.US)$ rose 15.8% and closed at $0.0645 on May 15th with a turnover of $6.32 million. $Blue Star Foods (BSFC.US)$ now has a total market capitalization of $3.07 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.