LuxUrban Hotels Announces Reverse Stock Split and Flexibility
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Nov 15 2024
0mins
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.
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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.
