Vision Marine Technologies (VMAR) said Thursday that its board approved a 10-for-1 reverse stock split, effective when the market opens on Monday.
The company said the main goal of the reverse stock split is to boost the per-share price of its common shares to avoid non-compliance with Nasdaq's minimum $1 bid price per-share requirement.
The company's shares were down 7% in recent trading.
Price: 0.58, Change: -0.04, Percent Change: -6.95
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.