Pistiolis tanker firm slashing share count as market cap drops $246m below fleet value

Originally published by

TradeWinds

Gary Dixon

Location

London

Section

Tankers

Publication date

24 June 2026

Nasdaq-listed Rubico wants to boost stock back above $1

Key takeaways

Nasdaq-listed Rubico wants to boost stock back above $1
Evangelos Pistiolis-controlled Rubico is having to cut its share count for the third time this year due to a persistently low valuation.
The Greek tanker owner said it will carry out a one-for-25 reverse stock split on the Nasdaq exchange in New York in time for trading on 26 June.
The stock was down nearly 29% at $0.28 on Wednesday.

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Evangelos Pistiolis-controlled Rubico is having to cut its share count for the third time this year due to a persistently low valuation.

The Greek tanker owner said it will carry out a one-for-25 reverse stock split on the Nasdaq exchange in New York in time for trading on 26 June.

The stock was down nearly 29% at $0.28 on Wednesday.

Original publication