What's Going On With Workhorse Shares Monday?
The post-split decline signals market skepticism regarding WKHS’s stability, reminiscent of past splits leading to further declines in stock prices among struggling firms.
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The post-split decline signals market skepticism regarding WKHS’s stability, reminiscent of past splits leading to further declines in stock prices among struggling firms.
What happened, with direct paths to the underlying reporting
WKHS implemented a 1-for-12 reverse stock split to increase share price. Outstanding shares reduced from 26 million to about 2.17 million. The reverse split aims to meet Nasdaq's minimum price requirements. Post-split trading began, but shares fell by 18.48% to $7.64. No assurance that the reverse split will meet Nasdaq requirements.
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