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The Oracle of Omaha has increased Berkshire Hathaway's stake by 262% in the only brand-name company set to conduct a reverse-stock split.
Many stock splits are greeted by investors as good news, and shares sometimes rise as a result. ... A company may use a reverse split to push its stock price back over a certain threshold ...
AMC's (AMC) stock sank 7% on Thursday after the country's biggest cinema operator proposed a reverse stock split and a conversion of its preferred equity units into common shares.
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.
(Booking Holdings did do a reverse stock split some 21 years ago.) So while any of them might opt to relatively soon, it's also possible that investors will have to wait a while.
The reverse split pushed Celldex’s share price from about 39 cents to about $5 per share, but the market’s negative initial reaction to the decision is typical of the response to reverse splits.
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.
Rite Aid (RAD) approves a 1-for-20 reverse stock split to regain compliance for NYSE listing rules. This will reduce the company's outstanding shares to 54 million.