Avid Bioservices Inc (CDMO)

[n3m3sis]

Not necessarily...........

however, a lower priced stock on a per-share basis can attract a wider range of buyers. If that increased demand causes the share price to appreciate, then the total market capitalization rises post-split. This does not always happen, however, often depending on the underlying fundamentals of the business.

A rocket taking off into space needs a lot of fuel(read volume), then that fuel needs to be ignited (read announcement), for a sustained flight upwards.