Infobird (NASDAQ:IFBD) stock is flying higher on Tuesday after the software-as-a-service (SaaS) company announced a delay to a reverse stock split.
Infobird says that it now plans for a reverse stock split to go into effect when markets open on Monday. The company was originally planning for the split to go into effect after markets closed yesterday. That would have seen its shares trading on a split-adjusted basis when markets opened this morning.
Infobird notes that the delayed reverse stock split is the result of it not obtaining regulatory clearances as soon as expected. When the reverse split does go into effect, it will result in eight shares being consolidated into a single share.
How This Affects IFBD Stock Today
Shares of IFBD stock are seeing wild movement on Tuesday morning after announcing its delayed reverse stock split. This has some sources reporting different prices for the stock. For example, Yahoo Finance has shares trading for about $6.27 as of this writing. At that same time, Google Finance is reporting the price of the shares at $22.08. This has IFBD stock up anywhere from 124% to 484% this morning.
All of this likely has investors confused about the true price of IFBD stock. These market issues will likely be sorted out in time. Until then, traders will want to keep an eye on Infobird’s shares.
There are also more stock market stories worth reading about below!
We are offering coverage of all the hottest stock market stories worth reading about on Tuesday! Among that is what’s sending shares of Janux Therapeutics (NASDAQ:JANX) stock higher, the biggest pre-market stock movers this morning and more. All of that info is ready to go at the links below!
More Stock Market News for Tuesday
- Why Is Janux Therapeutics (JANX) Stock Up 108% Today?
- Today’s Biggest Pre-Market Stock Movers: 10 Top Gainers and Losers on Tuesday
- Stifel Just Slashed Its Price Target on Lucid Motors (LCID) Stock
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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
