Beyond Meat (BYND) investors are entering a critical new chapter after the company completed its 1-for-30 reverse stock split, with split-adjusted trading beginning Aug. 14. The move was primarily aimed at helping the plant-based meat maker regain compliance with Nasdaq's $1 minimum bid-price requirement after a prolonged slide in its stock. Additionally, Beyond Meat needs to maintain a closing bid of at least $1 for 10 consecutive business days before the Aug. 31 deadline.
Each 30 pre-split shares were consolidated into one share, while Beyond Meat also reduced its authorized common shares from 3 billion to 100 million.
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Each 30 pre-split shares were consolidated into one share, while Beyond Meat also reduced its authorized common shares from 3 billion to 100 million.
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2 months ago
