09:00 AM EDT, 10/11/2024 (MT Newswires) -- 23andMe Holding ( ME ) said Thursday its board has approved a 1-for-20 reverse stock split of its Class A and Class B common stock.

The company's class A common stock will begin trading on a split-adjusted basis on Nasdaq on Oct. 16, 23andMe said, adding that the split will reduce the outstanding shares of class A and class B stock to about 17.5 million and 8.3 million, respectively, from approximately 350.3 million and 166.4 million.

23andMe shares fell 11% in recent Friday premarket activity.

Price: 0.2661, Change: -0.03, Percent Change: -11.24