American Virtual Cloud Technologies plunges on reverse stock-split plan
30/09/2022 14:03
** Shares of cloud-based communications platform American
Virtual Cloud Technologies AVCT.O slump 41.3% to 17 cents in
premarket trading
** AVCT said on Thursday it intends to execute a 1-for-15
reverse stock split of its common stock urn:newsml:reuters.com:*:nGNX2cS1J3
** Co's stock is expected to begin trading on a
split-adjusted basis when the market opens on Oct. 3
** As of last close, stock down ~88% this year
(Reporting by Tiyashi Datta in Bengaluru)
((tiyashi.datta@thomsonreuters.com))
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