These are the upcoming stock splits for the week of October 28 to November 1, 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. Accordingly, the stock price of the company’s shares decreases, which maintains the market capitalization before and after the split.
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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.
Companies often undertake stock splits to improve the liquidity of the common shares and make them more affordable for retail investors. Let’s look quickly at the upcoming stock splits for the week.
Ashford Hospitality Trust (AHT) – Ashford Hospitality is a real estate investment trust (REIT) that specializes in managing and operating hotel properties. On October 25, the REIT completed a one-for-ten reverse stock split of its common shares. The shares will start trading on a split-adjusted basis on October 28 on the NYSE. The company also conducted a similar reverse stock split of its Ashford Hospitality Partnership units on the same day.
Kazia Therapeutics Ltd. (KZIA) – Australia-based Kazia is a clinical-stage pharmaceutical company focused on developing treatments for cancer. On October 15, Kazia announced a one-for-ten reverse stock split of its ADS (American Depositary Shares) to comply with the Nasdaq’s minimum bid price requirement for continued listing. The stock split will change the ratio of ADS to ordinary shares from one-to-ten to one-to-100. Effective October 28, the ADS will start trading on a split-adjusted basis.
SaverOne 2014 Ltd. (SVRE) – Israel-based SaverOne is a technology company that has developed a system to block messages and life-endangering apps while driving with no impact on their work routine. On October 24, SaverOne announced a one-for-18 reverse stock split and a change in its ADS (American Depositary Shares) to the ordinary shares ratio from one-to-five to one-to-90. Effective October 28, the ADS will start trading on a split-adjusted basis to boost the per share trading price of its ADS.
Novatti Group Ltd. (NTTIF) – Australia-based Novatti Group is a fintech platform that enables payment solutions. On October 11, Novatti announced an entitlement offer of its common shares to raise additional capital of up to $5.4 million. The ex-date for the entitlement offer is October 25 and the record date is October 28.
Avalon GloboCare Corp. (ALBT) – Avalon GloboCare is a commercial-stage technology company focused on developing and delivering innovative, transformative, precision diagnostics, and clinical laboratory services. On October 24, Avalon announced a one-for-15 reverse stock split of its common shares to regain compliance with the Nasdaq’s minimum bid price requirement for continued listing. Effective October 28, shares will start trading on a split-adjusted basis.
Movano Inc. (MOVE) – Movano is a health-tech company. It is developing solutions and devices that enable data analytics with the aim of empowering customers to live healthier lives. On October 25, Movano announced a one-for-15 reverse stock split of its common stock. Shares will start trading on a split-adjusted basis on October 29.
Nano Labs Ltd. (NA) – China-based Nano Labs Ltd. is a fabless IC (integrated circuit) design company and product solution provider. The company develops high throughput computing (HTC) chips, high-performance computing (HPC) chips, and other solutions. On October 23, Nano Labs announced that its shareholders approved a one-for-ten reverse stock split of its common stock to comply with Nasdaq’s listing requirement for minimum bid price. Shares will start trading on a split-adjusted basis on October 30.
Yoshitsu Co. Ltd. Sponsored ADR (TKLF) – Japan-based Yoshitsu Co. Ltd. is a retailer and wholesaler of Japanese beauty and health products. Yoshitsu is expected to undergo a one-for-ten reverse stock split of its common stock, effective October 31. The company is even changing its corporate name to Tokyo Lifestyle Co. Ltd., effective October 31.
Beijing Energy International Holding Co., Ltd. (PVLTF) – Beijing Energy International is a clean energy company with investments in wind and solar energy, hydropower, integrated energy, gas turbine, green hydrogen, and intelligent computing projects. The company is expected to undergo a one-for-ten reverse stock split of its common shares, effective November 1.
To find more information about historical and upcoming stock splits, visit the TipRanks Stock Splits Calendar.
