- Root ( NASDAQ: ROOT ), the parent company of Root Insurance, is set to implement a reverse stock split of its Class A common stock and Class B common stock at a ratio of 1-for-18.
- The reverse stock split is expected to take effect after market close August 12, 2022. As a result of the split, all historical per share data, number of shares outstanding and other common stock equivalents presented in future financial statements will be retroactively adjusted.
- In other news, Root reported Q2 results today. Shares have dropped over 4% in response to the news
For further details see:
Root to execute 1-for-18 reverse stock split