Beyond Meat Stock Climbs Following 1-for-30 Reverse Stock Split
Beyond Meat shares are trading higher Friday afternoon following the official implementation of its 1-for-30 reverse stock split.
Beyond Meat combined 30 old shares into 1 new share, which made the stock price jump up on the day it happened. A reverse split is a accounting move that doesn't change what the company is worth—think of trading 30 dimes for 3 dollars; you still have the same money.
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Source: Benzinga · Read the original report at the publisher. Headline and figures shown for context; data may be delayed.
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