February 29th - $China Jo-Jo Drugstores (CJJD.US)$ is about to implement a 1-for-20 reverse stock split of shares. The shares will begin trading on a split-adjusted basis from March 1st, 2024.
$China Jo-Jo Drugstores (CJJD.US)$ slipped 14.63% and closed at $0.1792 on February 28th with a turnover of $260.27K. $China Jo-Jo Drugstores (CJJD.US)$ now has a total market capitalization of $6.03 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.