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The transaction reduced the number of shares outstanding by approximately 12%, after which the company enacted a 1-for-10 reverse stock split that lifted the share price out of the penny-stock range.
The "reverse stock split" appellation is a reference to the more common stock split in which shares are effectively divided to form a larger number of proportionally less valuable shares. New shares are typically issued in a simple ratio, e.g. 1 new share for 2 old shares, 3 for 4, etc. A reverse split is the opposite of a stock split.
In a reverse stock split, a company reduces the number of shares outstanding, boosting the share price. For example, with a 1:3 stock split, the number of shares is divided by three while the ...
Rest assured that Sirius XM's 1-for-10 reverse stock split conducted earlier this month had nothing to do with Buffett's purchase of more shares.
With shares down around 60% over the last five years, Sirius XM (NASDAQ: SIRI) has battered its long-term investors. And it's no surprise management turned to a 1-for-10 reverse stock split to ...
In a reverse stock split, your current shares are exchanged for fewer shares. When the split occurs, the share price also changes automatically to reflect the exchange ratio. That is, regardless ...
A stock split or stock divide increases the number of shares in a company. For example, after a 2-for-1 split, each investor will own double the number of shares, and each share will be worth half as much. A stock split causes a decrease of market price of individual shares, but does not change the total market capitalization of the company ...
Image source: Getty Images. Among the two types of stock splits -- forward and reverse -- investors clearly favor forward splits. Reverse-stock splits, which increase a company's share price, are ...
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