June 25th (Eastern Time) - $Rigel Pharmaceuticals (RIGL.US)$ is about to implement a 1-for-10 reverse stock split of shares. The shares will begin trading on a split-adjusted basis from June 27th, 2024.
$Rigel Pharmaceuticals (RIGL.US)$ rose 0.65% and closed at $0.9562 on June 24th with a turnover of $872.15K. $Rigel Pharmaceuticals (RIGL.US)$ now has a total market capitalization of $167.72 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.