New Rule
Rule 4120(a)(14), a trading halt due to a reverse stock split will be mandatory; Nasdaq indicates that it “expects to initiate the halt at 7:50 p.m., prior to the close of post-market trading at 8:00 p.m. on the day immediately before the split is effective, and resume trading at 9:00 a.m. on the day the split is effective.”
Also shortened the notification time for a reverse split from 15 days to 5 days.
In 2020 and 2021 there were a total of 125 RS.
In 2022 and the first 6 months of 2023 there were 360 or about 2 every 3 days.
And in more shocking news the SEC and the Nasdaq officials agrees that the new rules would benefit investors, even tho their reasoning behind it is complete horse shit which is eliminating errors by rushing the process. Whatever helps them sleep at night. Their findings below:
The SEC found that the proposal was reasonably designed to address recent reverse split market activity by providing additional transparency about reverse splits to investors through public disclosure, thus allowing them to better manage investment decisions. The SEC agreed with Nasdaq that shortening the timeframe for notification “should help to reduce the possibility of errors and allow companies to provide more complete and accurate information about a reverse stock split in a single submission to Nasdaq,” which should also benefit investors.
Todays stock picks:
Riding $Collective Audience(CAUD.US$ and $Davis Commodities(DTCK.US$ for another since they are still without shares.
$SciSparc(SPRC.US$ waiting patiently for its breakout.
And watch $Applied Uv(AUVI.US$ for a big move after moving their location to the largest fraud state. Also released news recently that caused no movement up.
Hope you get RICH!
Disclaimer: Community is offered by Moomoo Technologies Inc. and is for educational purposes only.
Read more
Comment
Sign in to post a comment
BarfBag : When the s r/s
Lucky2828 : Bro, any idea wework will resume trading. It seems to me it will take weeks
potsy52 BarfBag: Reverse split
BarfBag potsy52: When not what
jimmy james mendoza : why tf wud there be a reverse split?
BarfBag jimmy james mendoza: For Auvi? Because it’s .22 lol seriously?