Reliance Global Group Announces 1-For-17 Reverse Stock Split
Portfolio Pulse from Benzinga Newsdesk
Reliance Global Group, Inc. (NASDAQ:RELI) announced a 1-for-17 reverse stock split to regain compliance with Nasdaq's $1.00 minimum bid price requirement. The reverse split will take effect on June 28, 2024, and the stock will trade on a split-adjusted basis starting July 1, 2024.
June 26, 2024 | 1:18 pm
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Reliance Global Group, Inc. (NASDAQ:RELI) is implementing a 1-for-17 reverse stock split to comply with Nasdaq's $1.00 minimum bid price requirement. The reverse split will be effective on June 28, 2024, and the stock will trade on a split-adjusted basis starting July 1, 2024.
The reverse stock split is a technical move to regain compliance with Nasdaq's listing requirements. While it does not change the company's fundamentals, it may affect short-term trading dynamics and investor perception.
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