Maxeon Solar Technologies, Ltd. (NASDAQ:MAXN) shares are moving lower on Monday after the company announced a reverse stock split.
The Details: Shareholders of the company approved a 1-for-100 reverse stock split on August 29. This comes after Maxeon received a Staff Determination letter from the Nasdaq warning the company of a potential delisting after its stock traded at 10 cents or less for 10 consecutive trading days.
The company has requested a hearing which will hold off the delisting. Maxeon believes that the reverse stock split will bring the company’s stock above the $1 per share minimum bid price requirement.
How To Buy Maxeon Stock
By now you're likely curious about how to participate in the market for Maxeon Solar Technologies (NASDAQ:MAXN) – be it to purchase shares, or even attempt to bet against the company.
In the the case of Maxeon Solar Technologies (NASDAQ:MAXN), which is trading at $0.08 as of publishing time, $100 would buy you 1250.0 shares of stock.
MAXN Price Action: At the time of writing, Maxeon stock is moving 9.62% lower at 8 cents, according to data from Benzinga Pro.
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