24/7 Market News Snapshot 04 December, 2024 – bluebird bio, Inc. Common Stock (NASDAQ:BLUE)
DENVER, Colo., 04 December, 2024 (247marketnews.com) – (NASDAQ:BLUE) are discussed in this article.
bluebird bio, Inc. (NASDAQ:BLUE) is experiencing a noteworthy surge in its stock price, opening at $0.36 and reaching $0.505, marking an impressive increase of approximately 40.86%. The trading activity is particularly robust, with over 72.23 million shares exchanged, reflecting heightened investor interest and engagement. Analysts suggest that the positive momentum might continue, attracting more momentum traders to the stock as it navigates this critical phase.
In a strategic move to enhance stockholder value and comply with Nasdaq’s listing requirements, bluebird bio has announced a 1-for-20 reverse stock split of its common stock. This decision, which received the backing of both the Board of Directors and stockholders, is set to take effect at 5 p.m. on December 12, 2024. The objective of this reverse split is to raise the share price to meet Nasdaq’s minimum bid requirement. The adjusted common stock is expected to begin trading under the existing symbol “BLUE” on December 13, 2024, accompanied by a new CUSIP number.
Under the terms of the reverse split, shareholders will see their holdings automatically consolidated, where every 20 shares owned will convert into one share. Those entitled to fractional shares will instead receive a cash payment. Importantly, electronic stockholders will have no action to take, as adjustments will be automatically applied by their brokers.
As a leader in gene therapy, bluebird bio remains dedicated to innovating and improving access to transformative treatments for patients with severe genetic disorders. Through this proactive approach, the Company aims not only to strengthen its market position but also to uphold its commitment to enhancing the lives of patients and their families. Further information on the reverse stock split can be found in bluebird bio’s recent proxy filing with the U.S. Securities and Exchange Commission.
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