July 29th (Eastern Time) - $CGG Sponsored ADR (CGGYY.US)$ is about to implement a 1-for-100 reverse stock split of shares. The shares will begin trading on a split-adjusted basis from July 31st, 2024.
$CGG Sponsored ADR (CGGYY.US)$ rose 5.37% and closed at $0.628313 on July 26th with a turnover of $33,345.42. $CGG Sponsored ADR (CGGYY.US)$ now has a total market capitalization of $449.94 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.