August 31st - $NETWORK MEDIA GROUP INC (NETWF.US)$ is about to implement a 1-for-5 reverse stock split of shares. The shares will begin trading on a split-adjusted basis from September 21st, 2023.
$NETWORK MEDIA GROUP INC (NETWF.US)$ slipped 10.75% and closed at $0.02722 on August 30th with a turnover of $169.83. $NETWORK MEDIA GROUP INC (NETWF.US)$ now has a total market capitalization of $2.42 million.
What Is a Reverse Stock Split?
A reverse stock split consolidates the number of existing shares of stock held by shareholders into fewer shares. It does not directly impact a company's value. And it can signal a company in distress since it raises the value of otherwise low-priced shares.
Note:
The company's actual implementation is subject to the final disclosure submitted to the exchange. The information provided herein is for reference only.