Allbirds falls after announcing 1-for-20 reverse stock split

Allbirds

30/08/2024 14:41

** Footwear maker Allbirds  BIRD.O  down 14.9% at $0.61
    ** Co announces 1-for-20 reverse stock split of its
outstanding shares of Class A Common Stock and Class B Common
Stock
    ** Stock split intended to bring the company into compliance
with the minimum bid price requirement for continued listing on
the Nasdaq Global Select Market, co says
    ** Stock split to be effective at 5.00 am ET on Sept. 4
    ** YTD, BIRD down 41% as of last close

 (Reporting by Juveria Tabassum in Bengaluru)
 ((Juveria.Tabassum@thomsonreuters.com;))