Why Amesite Stock Is Trading Sharply Lower

Amesite Inc AMST shares are trading lower by 29.59% to $2.91 going into the close of Wednesday's session after the company effected a 1-for-12 reverse stock split.

What Else?

Amesite says the reverse stock split is primarily intended to bring the company into compliance with Nasdaq's minimum bid price requirement.

As a result of the reverse stock split, every 12 shares of issued and outstanding common stock will be exchanged for 1 share of common stock, with any fractional shares being rounded up to the next higher whole share.

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The company now has approximately 2,533,359 shares of common stock issued and outstanding.

According to data from Benzinga Pro, AMST has a 52-week high of $12.60 and a 52-week low of $1.56.