Rubico (RUBI) Stock Falls After-Hours After Company Announces Reverse Stock Split: Here Is What Is Going

Rubico Inc. (NASDAQ:RUBI) shares fell in after-hours trading on Tuesday after the company announced a 1-for-25 reverse stock split aimed at maintaining compliance with Nasdaq listing requirements.

RUBI closed Tuesday’s regular session at $0.39, down 4.59%. In after-hours trading, shares fell to $0.33, down 14.40%.

Rubico is a shipping company that owns and operates tanker vessels used for transporting oil and chemical products.

Reverse Stock Split Pressures Shares

Rubico said its board approved a 1-for-25 reverse stock split of its common shares, effective at the opening of trading on Friday.