What Is Happening With 23andMe Stock Price (ME)?
Those following the stock price of 23andMe (NASDAQ: ME) will have noticed a significant shift in price, to the tune of 20x. This has not come with an expansion of market cap, but is the result of a restructure.
In a significant corporate move, 23andMe Holding Co, a prominent name in the genetics-led healthcare and therapeutics field, made strides to address its stock performance issues by implementing a 1-for-20 reverse stock split in order to remain in compliance with NASDAQ regulations.
This financial manoeuvre for its Class A and Class B common stock is deemed a strategic attempt to revitalise the company’s market standing and comes as the stock had been trading under $1 for an extended period.
The reverse stock split became…
