Are you curious about the latest stock splits happening in the market? Look no further, as we at Extreme Investor Network have gathered all the upcoming stock splits for the week of October 7 to October 11, based on TipRanks’ Stock Splits Calendar. Stock splits play a significant role in the corporate world, as they can impact the market capitalization of a company before and after the split.
What exactly is a stock split? It is when a company issues additional common shares to increase the number of outstanding shares, leading to a decrease in the stock price to maintain market capitalization. On the other hand, reverse stock splits reduce the number of outstanding shares, ultimately increasing the share price to maintain market cap.
Why do companies opt for stock splits? Often, these actions are taken to enhance the liquidity of common shares and make them more accessible to retail investors. Now, let’s take a closer look at the upcoming stock splits for the week.
#1. ams OSRAM AG (AMSSY) – This Austria-based semiconductor company is set to undergo a one-for-ten reverse stock split of its unsponsored ADRs (American Depositary Receipts) starting on October 7.
#2. Reneo Pharmaceuticals (RPHM) – A clinical-stage biopharmaceutical company, Reneo Pharmaceuticals, completed a merger with OnKure Therapeutics and effected a one-for-ten reverse stock split of its common stock on October 4. The shares will start trading on a split-adjusted basis on October 7 under the new ticker symbol “OKUR”.
#3. A2Z Smart Technologies Corp. (AZ) – This Israel-based company announced a one-for-2.5 reverse stock split of its common stock effective October 8 to comply with the Nasdaq’s minimum bid price requirement for continued listing.
#4. Vision Marine Technologies (VMAR) – Vision Marine Technologies announced a one-for-nine reverse stock split of its common stock on October 4, effective on October 8, to increase the per share market price and regain compliance with the Nasdaq’s minimum bid price requirement.
#5. Agrify Corp. (AGFY) – Agrify Corp. revealed a one-for-15 reverse stock split of its common stock on October 4 to meet the Nasdaq’s listing rules for continued listing. Shares are expected to trade on a split-adjusted basis on October 8.
#6. Safe & Green Development Corp. (SGD) – SGD, a real estate development company, announced a one-for-20 reverse stock split of its common stock to regain compliance with the Nasdaq’s minimum bid price requirement. Trading is expected to start on a split-adjusted basis on October 8.
#7. MicroCloud Hologram (HOLO) – China-based MicroCloud disclosed a one-for-20 reverse stock split of its Class A ordinary shares effective on October 9 to meet the Nasdaq’s minimum bid price requirement for continued listing.
#8. Sony Group Corporation (SONY) – Japan-based Sony Group is set to undergo a five-for-one stock split of its ADRs (American Depositary Receipts) effective October 9.
#9. Nidec Corp. (NJDCY) – Nidec Corp., a Japan-based company, announced a two-for-one stock split of its common stock effective October 9.
#10. GreenFirst Forest Products (ICLTF) – Canada-based GreenFirst Forest Products declared a one-for-1,000 reverse stock split of its common stock on September 27, with trading set to begin on a split-adjusted basis on October 9.
#11. TDK Corp. (TTDKY) – TDK Corp., a Japan-based electronics components manufacturer, announced a five-for-one stock split of its ADRs effective October 9.
#12. Sequans Communications SA (SQNS) – Sequans, a semiconductor company, disclosed a one-for-2.5 reverse stock split of its ADS (American Depositary Shares) effective October 9 to meet the Nasdaq’s minimum bid price requirement for continued listing.
#13. Alfa SAB de CV Class A (ALFFF) – Mexico-based Alfa Group announced a rights issue of its shares in the ratio 1:1, with an ex-date of October 9.
#14. NV5 Global (NVEE) – NV5 Global, a provider of technology and consulting services, announced a four-for-one stock split of its common stock on September 25 to enhance liquidity and attractiveness. Shares will trade on a split-adjusted basis on October 11.
For more insights on historical and upcoming stock splits, do check out the TipRanks Stock Splits Calendar. Stay informed and make sound investment decisions with Extreme Investor Network. Happy investing!