Wheeler Real Estate shares are trading lower. The company announced a 1-for-3 reverse stock split of common stock.
Portfolio Pulse from Benzinga Newsdesk
Wheeler Real Estate shares are declining following the announcement of a 1-for-3 reverse stock split of its common stock.
September 18, 2024 | 1:19 pm
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Wheeler Real Estate shares are trading lower after the company announced a 1-for-3 reverse stock split. This move typically indicates an attempt to increase the stock price by reducing the number of shares outstanding.
Reverse stock splits are often perceived negatively by investors as they can signal financial distress or an attempt to meet listing requirements. The immediate market reaction is a decline in share price, reflecting investor sentiment.
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