June 27th (Eastern Time) - $Reliance Global Group (RELI.US)$ is about to implement a 1-for-17 reverse stock split of shares. The shares will begin trading on a split-adjusted basis from July 1st, 2024.
$Reliance Global Group (RELI.US)$ slipped 28.2% and closed at $0.2851 on June 26th with a turnover of $2.34 million. $Reliance Global Group (RELI.US)$ now has a total market capitalization of $2.43 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.