July 15th (Eastern Time) - $SITE Centers (SITC.US)$ is about to implement a 1-for-4 reverse stock split of shares. The shares will begin trading on a split-adjusted basis from August 19th, 2024.
$SITE Centers (SITC.US)$ rose 1.2% and closed at $15.23 on July 12th with a turnover of $21.9 million. $SITE Centers (SITC.US)$ now has a total market capitalization of $3.19 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.