November 30th - $ENGlobal (ENG.US)$ is about to implement a 1-for-8 reverse stock split of shares. The shares will begin trading on a split-adjusted basis from December 1st, 2023.
$ENGlobal (ENG.US)$ slipped 6.54% and closed at $0.24 on November 29th with a turnover of $196.51K. $ENGlobal (ENG.US)$ now has a total market capitalization of $9.83 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.