Camber Energy Inc CEI shares are trading lower by 17.00% to the $0.07 Friday morning. The company’s board of directors approved a 1-for-50 reverse stock split of the company’s issued and outstanding shares of common stock.
Following the reverse stock split, the number of authorized shares of common stock will be reduced from 1,000,000,000 to 20,000,000. Camber Energy says the reverse split is anticipated to be effective as of market open on December 30.
According to data from Benzinga Pro, CEI has a 52-week high of $1.98 and a 52-week low of $0.07.
Image and article originally from www.benzinga.com. Read the original article here.