September 27th - $2x Long VIX Futures ETF (UVIX.US)$ is about to implement a 1-for-10 reverse stock split of shares. The shares will begin trading on a split-adjusted basis from October 11th, 2023.
$2x Long VIX Futures ETF (UVIX.US)$ rose 18.42% and closed at $4.05 on September 26th with a turnover of $105.21 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.