EU and US could reach trade deal this weekend - Reuters
Siyata Mobile Inc. has seen its stock warrants (SYTAW) reach a 52-week high, touching the $0.2 mark. While recent trading shows significant weekly gains according to InvestingPro data, the company’s financial health score stands at FAIR, with revenue growing 41.59% in the last twelve months. This peak comes amid volatile trading conditions, with InvestingPro analysis revealing high price volatility and a current ratio of 1.03. Investors watching the stock’s movement should note that analysts anticipate sales growth this year, though profitability remains a challenge with negative EBITDA of -$12.84M. The achievement of a 52-week high is often seen as a bullish indicator by market watchers and could potentially attract further attention to Siyata Mobile’s stock in the trading sessions ahead. Get access to 15+ additional InvestingPro Tips for deeper insights into Siyata Mobile’s financial outlook.
In other recent news, Siyata Mobile Inc. announced a 1-for-10 reverse stock split of its common shares, which is scheduled to take effect at the start of trading on December 27, 2024. This move aims to meet Nasdaq’s minimum bid price requirement, consolidating ten current shares into one new share of common stock. The action will not affect the par value of the shares or the authorized number of common or preferred stock. Adjustments will be made to the company’s outstanding stock options, warrants, and other convertible securities to reflect this consolidation. Shareholders will not receive fractional shares; instead, any fractional holdings will be rounded up to the nearest whole share. Computershare, the company’s transfer agent, will facilitate the exchange process for shareholders with physical stock certificates, while electronic holdings will be automatically adjusted. The reverse stock split is primarily intended to ensure compliance with Nasdaq’s rules, although there is no assurance of achieving this goal. Siyata’s common shares will continue to trade under the symbol "SYTA" with a new CUSIP number post-split.
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