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An update from LuxUrban Hotels ( (LUXH) ) is now available.
LuxUrban Hotels Inc. has announced a one-for-seventy reverse stock split, aiming to enhance its position within Nasdaq Capital Markets and improve trading prospects. This move, approved by stockholders, reduces outstanding shares from approximately 151.85 million to 2.17 million, while also allowing flexibility in issuing additional shares by waiving the 19.99% share limit under Nasdaq rules. The reverse split will take effect on November 20, 2024, maintaining the trading symbol ‘LUXH.’
For an in-depth examination of LUXH stock, go to TipRanks’ Stock Analysis page.