HIPO - Hippo falls 4% afterhours on board approval for 1-for-25 reverse stock split
- Hippo ( NYSE: HIPO ) fell 4.2% after the bell on Monday after the firm said its board approved a 1-for-25 reverse stock split .
- HIPO's stock is expected to start trading on a split-adjusted basis when markets open on Sept. 30 under its existing ticker "HIPO".
- No fractional shares will be issued and shareholders entitled to receive fractional shares will receive cash.
- HIPO in Jul. proposed to implement a reverse stock split to comply with NYSE's minimum bid price rule .
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Hippo falls 4% afterhours on board approval for 1-for-25 reverse stock split