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Vaccinex Inc (NASDAQ:VCNX) shares are trading lower by 7.1% to $0.79 Thursday morning after the company announced a 1-for-14 reverse stock split effective February 19.
This action was approved by stockholders on February 8, to meet Nasdaq Capital Market’s $1.00 minimum bid price requirement. The company has until March 4 to comply, with the closing bid price needing to be at least $1.00 per share for 10 consecutive business days.
As a result of the reverse stock split, every fourteen shares of the company’s common stock will automatically be combined into one share of common stock.
See Also: Retail Sales Sink In January, Manufacturing Indicators Improve, Jobless Claims Fall
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 Vaccinex’s case, it is in the Health Care 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.
According to data from Benzinga Pro, VCNX has a 52-week high of $7.89 and a 52-week low of $0.51.
Posted In: VCNX
