Shares of MSP Recovery
LIFW,
which does enterprise as LifeWallet, sank late Tuesday after the corporate mentioned it could enact a 1-for-25 reverse inventory cut up.
The inventory fell 20%, to twenty cents, after-hours, after rising 25% at Tuesday’s shut. Shares are down 84% this yr.
The Coral Gables, Fla.-based insurance coverage claim-recovery firm mentioned its shares would start buying and selling on a split-adjusted foundation when buying and selling opens Oct. 13. The firm mentioned the reverse cut up was meant to convey the corporate into compliance with the Nasdaq’s $1 minimal bid value per share requirement.
Source web site: www.marketwatch.com
