Why KORE Group Holdings Stock Is Trading Lower

KORE Group Holdings Inc KORE shares are trading lower by 16.8% to $0.49 during Monday’s session after the company late Friday announced a 1-for-5 reverse stock split of its common stock, effective at 12:01 a.m. Eastern Time on July 1.

The reverse stock split aims to increase the stock’s per share price to meet NYSE’s minimum listing requirements and was approved by stockholders on June 12, and by the Board of Directors on June 21.

This split means every five existing shares will be reclassified into one new share, with proportional adjustments to outstanding equity awards and shares under the equity incentive plan. No fractional shares will be issued; instead, fractional shares will be rounded up to the next whole share.

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Should I Sell My KORE Stock?

When deciding to hold on to or sell a stock, investors should consider their time horizon, unrealized gains and total return.

Shares of Kore Group Holdings have decreased by 64.28% in the past year. An investor who bought shares of Kore Group Holdings at the beginning of the year would take a loss of $0.33 per share if they sold it today. The stock has fallen 22.62% over the past month, meaning an investor who bought shares on May. 1 would see a capital loss of $0.29.

Kore Group Holdings shares have an all-time high of $8.07, representing 1549.29% upside from current levels.

Investors may also consider market dynamics. The Relative Strength Index can be used to indicate whether a stock is overbought or oversold. Kore Group Holdings stock currently has an RSI of 38.08, indicating neutral conditions.

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KORE has a 52-week high of $1.59 and a 52-week low of $0.32.