November 14th (Eastern Time) - $Defiance Daily Target 2X Short MSTR ETF (SMST.US)$ is about to implement a 1-for-5 reverse stock split of shares. The shares will begin trading on a split-adjusted basis from November 18th, 2024.
$Defiance Daily Target 2X Short MSTR ETF (SMST.US)$ rose 16.25% and closed at $2.325 on November 13th with a turnover of $29.76 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.