Dear SOFI Stock fans, mark your calendars for July 12
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SoFi (NASDAQ:SOFI) investors will want to keep an eye on shares of the financial company when July 12 rolls around next month.
This is when SoFi plans to hold its annual shareholders meeting. One news item to note is that he is looking to vote for a reverse stock split. This would not be a split, but rather giving the board permission to do one if it so wishes.
So what type of reverse stock split is SoFi aiming for? The company doesn’t specify the exact ratio, but rather offers a range between a one-for-two and one-for-10 reverse stock split. It also doesn’t say when that split might occur.
According to the company’s filing, it is considering a stock split for three reasons. The first is to increase the price of its shares in the hope of attracting high-value investors. The second reason is to improve its perception as investment security. Finally, the company believes that a rise in share price could lead to better deals and partnerships.
SOFI stock is not doing so well on Friday after the announcement of the reverse stock split. The shares are seeing weak trade with only around 24 million moves so far. That’s below its average daily trading volume of around 50.5 million shares.
The SOFI share is down 3.2% Friday afternoon and down 62.3% since the start of the year.
Investors looking for the latest stock market news have come to the right place!
We have all the latest stock news worth reading on Friday! This includes what happens with the actions of Regis Corporation (NYSE:GIS), Paltalk (NASDAQ:PALT), and Advanced micro-systems (NASDAQ:AMD) Inventory. You can read all this news on the links below!
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As of the date of publication, William White had (neither directly nor indirectly) any position in the securities mentioned in this article. The opinions expressed in this article are those of the author, subject to InvestorPlace.com publishing guidelines.
Article printed by InvestorPlace Media, https://investorplace.com/2022/06/dear-sofi-stock-fans-mark-your-calendars-for-july-12/.
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