What's Going On With Reliance Global Stock After Its Reverse Split?
Portfolio Pulse from Erica Kollmann
Reliance Global Group, Inc. (NASDAQ:RELI) shares are trading higher after a 1-for-17 reverse split. The company announced a new Real Estate division, set to launch after acquiring Spetner Associates in the second half of 2024. Shares are up 10% at $4.23, despite a year-to-date loss of 95.09%.
July 01, 2024 | 3:17 pm
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Reliance Global Group's shares are trading higher following a 1-for-17 reverse split and the announcement of a new Real Estate division. The division will launch after the acquisition of Spetner Associates, expected in H2 2024. Despite a 95.09% YTD loss, shares are up 10% at $4.23.
The reverse split and the announcement of a new Real Estate division are significant corporate actions that have positively impacted the stock price. The 10% increase in share price indicates a positive market reaction, despite the stock's poor year-to-date performance.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100