ContextLogic Inc WISH Shares traded 17.10% lower at $8.13 during Wednesday’s session after the company completed a 1:30 reverse stock split.
What else?
According to ContextLogic, the reverse stock split should allow the company to restore compliance with the minimum bid price for continued listing on the Nasdaq Global Select Market.
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The 1:30 reverse stock split automatically converted 30 common shares of the company into one new common share.
Meanwhile, the reverse stock split will not decrease ContextLogic’s number of authorized common shares, which will remain at 3 billion.
According to data from Gasoline ProWISH has a 52-week high of $68.40 and a 52-week low of $7.86.
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