Ashford Hospitality Trust Announces Reverse Stock Split
Skift Take
AHT revealed they were notified by the NY Stock Exchange for failing to meet the minimum $1 bid price requirement and will implement a 1-for-10 reverse stock split to regain compliance.
The DJIA ended Friday with a gain of 138 points but Nasdaq was down 71 while the S&P 500 fell 7 points. The 10-year treasury yield was down .04 to 3.75%. It was a mixed day for lodging stocks. HLT and IHG traded up to new highs while SHCO was up 10% but SOND was down -17%, AHT fell -15% on the day and VCSA was down -5%.
The drop in Ashford Hospitality Trust can be traced to their announcement of another reverse split. AHT said they received notification from the NY Stock Exchange that they were not in compliance with the minimum $1 bid price requirement. AHT said they will execute a 1 for 10 reverse stock split to regain compliance.
The Ritz-Carlton, Half Moon Bay, located in Half Moon Bay, California, unveiled its stunning property refresh with extensive updates to the guestrooms and suites, as well as The Spa, Signature Restaurant Navio, The Conservatory, and more. The 261-room hotel is the San Fran
