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Technology Stocks : Groupon, Inc.
GRPN 20.13+2.6%Oct 31 9:30 AM EDT
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From: Sr K6/14/2020 10:49:54 AM
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Recommended By
Glenn Petersen

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GRPN approved 1:20 reverse split so on SI is up reflecting it, effective Wednesday.

The Groupon ... and was 1 for 20. The goal of the plan was to jump up the share price of the stock, which has been trading dangerously low since mid-February. GRPN isn’t in danger of Nasdaq delisting for low share prices, so at least it worked in that regard.

Groupon decided to go forward with the reverse stock split plan after consulting with investors at its annual shareholder meeting on Tuesday. Shareholders were in favor of the plan and the company’s Board of Directors gave it their approval the following day.

The Groupon news release notes that the reverse stock split affects all shareholders equally. This means it didn’t result in any changes to ownership in the company. The split also doesn’t allow for fractional shares. Instead, those shares are complied and resold, with shareholders getting cash payments for their fractions.
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