LuxUrban Hotels Announces Reverse Stock Split and Flexibility
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Nov 15 2024
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Source: Business Insider
Reverse Stock Split Announcement: LuxUrban Hotels Inc. has approved a one-for-seventy reverse stock split to enhance its Nasdaq Capital Markets position, reducing outstanding shares from approximately 151.85 million to 2.17 million.
Effective Date and Trading Symbol: The reverse split will take effect on November 20, 2024, while maintaining the trading symbol ‘LUXH’ and allowing for more flexibility in issuing additional shares.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
