These are the upcoming stock splits for the week of July 15 to July 19, based on TipRanks’ Stock Splits Calendar. A stock split is a corporate action in which, the company issues additional common shares to increase the number of outstanding shares of the company. Accordingly, the stock price of the company’s shares decreases, which maintains the market capitalization before and after the split. In contrast, there are also reverse stock splits that reduce the number of outstanding shares (consolidate). In this case, too, the market cap is maintained as the share price increases following the reverse stock split.
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Companies often undertake stock splits to improve the liquidity of the common shares and make them more affordable to common investors. Let’s look quickly at the upcoming stock splits for the week.
SMX (Security Matters) Public Limited Company (SMX) – SMX offers authentication and tracking solutions with its proprietary marker system. Effective July 15, SMX shares will commence trading on a reverse stock split adjusted (consolidated) basis. On June 11, SMX’s shareholders approved a reverse stock split of 75-for-one shares. The company undertook the reverse stock split to comply with the minimum bid price requirement of Nasdaq’s listing standards.
Broadcom (AVGO) – Shares of semiconductor player Broadcom are expected to start trading on a split adjusted basis today. The company implemented a 10-for-one split on July 12, after the market closed. The post-split revised price is intended to make Broadcom’s common stock more affordable to investors, by increasing the authorized shares from 2,900,000,000 to 29,000,000,000.
United States Lime & Minerals, Inc. (USLM) – USLM focuses on manufacturing lime and limestone products and earning royalties from oil and gas wells. On May 6, USLM announced a five-for-one stock split of its common stock in the form of a dividend. The split was effective July 12, after the market closed.
Calidi Biotherapeutics (CLDI) – Calidi Biotherapeutics is a clinical-stage biotechnology company focused on developing novel stem cell technologies for treating cancer. On July 5, Calidi announced a one-for-ten reverse stock split to be effective on July 15. CLDI shares are skyrocketing by 944% at the time of writing.
Lomiko Metals (LMRMF) – Lomiko Metals is a Canadian mineral exploration company with mineral interests in its La Loutre graphite development in southern Quebec. Lomiko announced a reverse stock split of ten-for-one of its common stock, effective July 15 on the Toronto Stock Exchange (TSX).
Catheter Precision (VTAK) – Catheter Precision is a medical device company that develops cutting-edge technologies. The company announced a one-for-ten reverse stock split to comply with the listing requirements of the NYSE American exchange. The shares will start trading on a split-adjusted basis effective July 15, reducing the float from approximately 9.01 million to approximately 901,251.
Alzamend Neuro (ALZN) – Alzamend Neuro is a clinical-stage biopharmaceutical company focused on developing therapies for a number of diseases. The company’s board approved a one-for-ten reverse stock split to be effective July 16. The split is undertaken to comply with Nasdaq’s minimum bid price requirement of $1 per share for continued listing on the exchange.
Innovative Eyewear (LUCY) – Innovative Eyewear manufactures smart eyeglasses. The smart glasses enable users to listen to music, attend, and make calls, backed by the power of voice-assisted artificial intelligence (AI). The company announced a one-for-twenty reverse stock split, reducing the float from 27,890,033 shares to approximately 1,394,502 shares. LUCY shares will start trading on a split-adjusted basis on July 18.
To find more information about historical and upcoming stock splits, visit the TipRanks Stock Splits Calendar.
