These are the upcoming stock splits for the week of August 26 to August 30, 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. 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.
BiomX Ltd. (PHGE) – BiomX is a clinical-stage company. It is developing natural and engineered phage cocktails and treatments focused on targeting and destroying harmful bacteria in chronic diseases such as cystic fibrosis and diabetic foot osteomyelitis. On August 15, BiomX announced a one-for-ten reverse stock split of its common shares. PHGE shares will start trading on a split-adjusted basis on August 26.
ESS Tech (GWH) – ESS Tech is a renewable energy company. It provides clean and low-cost long-duration energy storage solutions. On August 23, ESS’ board announced a one-for-15 reverse stock split to be effective on August 26. The company is undertaking the reverse stock split to comply with the NYSE’s minimum bid price requirement for continued listing on the exchange.
BYND Cannasoft Enterprises Inc. (BCAN) – Israel-based Femto Technologies, previously known as BYND Cannasoft, is an integrated software and cannabis company. BCAN operates a proprietary customer relationship management (CRM) software. Moreover, BCAN has developed a CRM platform to serve the needs of the medical cannabis industry. On August 16, BCAN announced a one-for-17 reverse stock split of its common shares, effective August 26. The split was undertaken to regain compliance with…
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