Ashford Hospitality Trust (AHT) shares crash after news: how to trade now?
Action during the after-hours trading period can often give investors a good idea of ââthe direction of the market on the next trading day and therefore it might be worth looking at Ashford stock. Hospitality Trust Inc (NYSE: AHT).
Yesterday, the stock was the focus of investor attention during after-hours trading and ended up registering gains of up to 27%. Shares skyrocketed after Ashford Hospitality announced that its board of directors approved a 1-for-10 split of the company’s common stock. The reverse stock split will take effect after the market close on July 16, 2021.
It will start trading on this basis from July 19, 2021 on the New York Stock Exchange. Once it becomes effective, one unit of the issued and outstanding common shares of Ashford Hospitality will convert to one tenth of the common shares. In this regard, it should also be noted that the approval of the Board of Directors of Ashford Hospitality was unanimous. Over the next few days, it will be interesting to see if there is any heavier action in the stock.
On Friday, AHT stock finished down 8.33% to $ 3.96 with more than 27.07 million shares, compared to its average volume of 34.08 million shares. The stock traded in a range of $ 3.9400 to $ 4.2871 after opening trade at $ 4.21. Over the past 52 weeks, the stock has traded in a range of $ 1.2700 to 8.5100.