share_log

Direxion Daily S&P 500 High Beta Bear 3X Shares To Carry Out 1-for-10 Reverse Stock Split On August 28th, 2023

moomoo News ·  Aug 7, 2023 19:40

August 8th - $Direxion Daily S&P 500 High Beta Bear 3X Shares (HIBS.US)$ is about to implement a 1-for-10 reverse stock split of shares. The shares will begin trading on a split-adjusted basis from August 28th, 2023.

$Direxion Daily S&P 500 High Beta Bear 3X Shares (HIBS.US)$ slipped 3.05% and closed at $3.5 on August 7th with a turnover of $5.78 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.

Disclaimer: This content is for informational and educational purposes only and does not constitute a recommendation or endorsement of any specific investment or investment strategy. Read more
    Write a comment