June 6th - $Volcon (VLCN.US)$ is about to implement a 1-for-100 reverse stock split of shares. The shares will begin trading on a split-adjusted basis from June 7th, 2024.
$Volcon (VLCN.US)$ slipped 20.01% and closed at $0.1335 on June 5th with a turnover of $1.45 million. $Volcon (VLCN.US)$ now has a total market capitalization of $3.35 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.