Why ABVC Biopharma Stock Is Trading Higher

ABVC Biopharma Inc ABVC shares are trading higher by 3.21% to $4.03 Tuesday morning after the company announced a 1-for-10 reverse stock split.

ABVC BioPharma announced a 1-for-10 reverse stock split effective July 25, to regain compliance with Nasdaq's listing rules. The split aims to decrease outstanding shares, increase the market price and attract a broader investor base.

VStock Transfer, LLC will handle the adjustments for shareholders, and no further action is required for registered stockholders.

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According to data from Benzinga Pro, ABVC has a 52-week high of $18.70 and a 52-week low of $3.33.