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Velox Energy Materials Inc To Carry Out 25-for-72 Reverse Stock Split On August 23rd, 2024

Moomoo News ·  Aug 22 01:35

August 22nd (Eastern Time) - $Velox Energy Materials Inc (VLX.CA)$ is about to implement a 25-for-72 reverse stock split of shares. The shares will begin trading on a split-adjusted basis from August 23rd, 2024.

$Velox Energy Materials Inc (VLX.CA)$ slipped 21.43% and closed at CAD$0.055 on August 20th with a turnover of CAD$4,350.


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.

Disclaimer: This content is for informational and educational purposes only and does not constitute a recommendation or endorsement of any specific investment or investment strategy. Read more
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