Vroom Inc (VRM) has released an update.
In a strategic move to consolidate its stock, a company has announced a reverse stock split of its Common Stock at a 1-for-80 ratio, effective after market hours on February 13, 2024. Shareholders will see the adjusted trading commence the following day under the same ticker symbol. To address fractional shares resulting from the split, stockholders will receive a cash payment based on the closing price rather than partial shares. This decision, aimed at optimizing the stock’s market position, was made by the company’s board and will be finalized with the filing of official documentation in Delaware.
For further insights into VRM stock, check out TipRanks’ Stock Analysis page.
For a comprehensive understanding of the announcement, you can read the full document here.
