Camber Energy Inc (AMEX:CEI) shares are trading higher Monday. The company on Friday announced it would move the effective date for its 1-for-50 reverse split to Dec. 21.
What Happened: Camber Energy expects the effective date for its reverse stock split to be Wednesday, which is sooner than previously expected. Following the reverse stock split, the company's common stock will be reduced from 1 billion shares to 20 million shares outstanding.
Camber Energy is a growth-oriented diversified energy company. Through its majority-owned subsidiary, Camber provides custom energy and power solutions to commercial and industrial clients in North America and owns interests in oil and natural gas assets in the United States.
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CEI Price Action: Camber Energy has a 52-week high of $1.98 and a 52-week low of 6 cents per share.
The stock was up 85.3% at 11 cents at time of publication, according to Benzinga Pro.
Photo: Lorenzo Cafaro from Pixabay.