June 14th (Eastern Time) - $Forward Industries (FORD.US)$ is about to implement a 1-for-10 reverse stock split of shares. The shares will begin trading on a split-adjusted basis from June 18th, 2024.
$Forward Industries (FORD.US)$ rose 1.53% and closed at $0.487949 on June 13th with a turnover of $7,518. $Forward Industries (FORD.US)$ now has a total market capitalization of $4.9 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.