August 23rd (Eastern Time) - $ESS Tech (GWH.US)$ is about to implement a 1-for-15 reverse stock split of shares. The shares will begin trading on a split-adjusted basis from August 26th, 2024.
$ESS Tech (GWH.US)$ slipped 5.43% and closed at $0.54 on August 22nd with a turnover of $579.93K. $ESS Tech (GWH.US)$ now has a total market capitalization of $95.48 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.