MicroCloud Hologram Inc. (NASDAQ:HOLO) shares are falling Thursday after shareholders approved a 1-for-20 reverse stock split.
The Details:
MicroCloud Hologram announced on Wednesday that shareholders had approved the reverse stock split which is intended to regain compliance with the minimum bid price Nasdaq listing requirement. The stock will begin trading on a split-adjusted basis on Oct. 9, 2024.
The reverse split will reduce the number of MicroCloud’s outstanding Class A ordinary shares from 410,883,973 shares to 20,544,198 shares.
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According to data from Benzinga Pro, MicroCloud shares are trading below the stock’s 50-day moving average of 36 cents and are approaching its 52-week low of 20 cents.
How To Buy HOLO Stock:
Besides going to a brokerage platform to purchase a share – or fractional share – of stock, you can also gain access to shares either by buying an exchange traded fund (ETF) that holds the stock itself, or by allocating yourself to a strategy in your 401(k) that would seek to acquire shares in a mutual fund or other instrument.
For example, in MicroCloud Hologram’s case, it is in the Information Technology sector. An ETF will likely hold shares in many liquid and large companies that help track that sector, allowing an investor to gain exposure to the trends within that segment.
HOLO Price Action: According to Benzinga Pro, MicroCloud Hologram shares are down 19.4% at 27 cents at the time of publication Thursday.
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Image: Vilius Kukanauskas from Pixabay
