What Is Going On With Via Renewables Shares Today?

Via Renewables, Inc VIA shares are trading lower Friday.
There was no corresponding company-specific news explaining the movement.
On April 19, the company's board temporarily suspended the quarterly cash dividend on its common stock to enhance its financial flexibility and improve its ability to manage market volatility while focusing on strengthening its balance sheet and investing in both organic and inorganic customer growth.
Additionally, the board declared a quarterly cash dividend of $0.73989 per share on the Series A Preferred Stock.
The company reported a $(27.5) million loss in the fourth quarter of FY22 versus a $(37.3) million loss a year ago.
The company's total liquidity was $76.9 million as of December 31, including cash and equivalents of $33.7 million.
The independent retail energy services company had declared a 1 for 5 reverse stock split, which took place on March 23.
The stock has lost 53.1% YTD.
Price Action: VIA shares traded lower by 10.70% at $11.83 on the last check Friday.