Hyzon Motors Is Latest E-Vehicle Company to Effect Reverse Stock Split -- Market Talk

Dow Jones09-07

1703 ET - In the latest sign of a difficult market for alternative fuel and electric vehicle companies, hydrogen fuel cell maker Hyzon Motors said it would effect a 1-for-50 reverse stock split. Hyzon, whose shares closed at 6 cents on Friday, said the move was made to ensure its continued listing on the Nasdaq. Earlier this year, companies including Zapp Electric Vehicle Group and electric vehicle maker Canoo carried out reverse splits. EV companies Faraday Future and Mullen Automotive also conducted multiple reverse stock splits since the start of 2023. (stephen.nakrosis@wsj.com)

(END) Dow Jones Newswires

September 06, 2024 17:03 ET (21:03 GMT)

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