(RTTNews) - Beyond Meat, Inc. (BYND), a plant-based meat company, on Tuesday said its board approved a 1-for-30 reverse stock split, effective August 14.
The move is intended to help the company regain compliance with Nasdaq's minimum bid price requirement and will reduce its authorized common shares to 100 million from 3 billion.
Beyond Meat shares were down more than 14% in pre-market trading after closing at $0.52 on Monday.
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