March 22nd - $Proshares Trust Ultrashort Semiconductors New 2020(R/S) (SSG.US)$ is about to implement a 1-for-5 reverse stock split of shares. The shares will begin trading on a split-adjusted basis from April 10th, 2024.
$Proshares Trust Ultrashort Semiconductors New 2020(R/S) (SSG.US)$ slipped 4.02% and closed at $2.39 on March 21st with a turnover of $692.6K.
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.