June 19th (Eastern Time) - $Qilian International (QLI.US)$ is about to implement a 1-for-5 reverse stock split of shares. The shares will begin trading on a split-adjusted basis from June 21st, 2024.
$Qilian International (QLI.US)$ rose 8.09% and closed at $0.776 on June 18th with a turnover of $163.61K. $Qilian International (QLI.US)$ now has a total market capitalization of $27.74 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.