May 14th - $Chimera Investment Corp (CIM.US)$ is about to implement a 1-for-3 reverse stock split of shares. The shares will begin trading on a split-adjusted basis from May 22nd, 2024.
$Chimera Investment Corp (CIM.US)$ slipped 5.42% and closed at $4.36 on May 13th with a turnover of $15.31 million. $Chimera Investment Corp (CIM.US)$ now has a total market capitalization of $1.05 billion.
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.