October 29th (Eastern Time) - $Proshares Ultrashort Utilities (SDP.US)$ is about to implement a 1-for-2 reverse stock split of shares. The shares will begin trading on a split-adjusted basis from November 7th, 2024.
$Proshares Ultrashort Utilities (SDP.US)$ slipped 1.83% and closed at $7.4935 on October 28th with a turnover of $291.23K.
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.