GE (General Electric) conducted a reverse stock split on August 2. They did an 8-to-1 stock split. So for eveyr 8 shares of stock you had, you know own one share. Do not dismay though as the stock price went up by 8 times. The stock was trading for $12.95 on July 30 at the end of the trading day on the market.Then it opened at $130.60 on the morning of August 2. In mathematical terms, your value of the stock stayed the same.
Check out the Youtube video to learn more about what a reverse stock split is, how it affects your stock portfolio, and possible reasons why GE decided to do this rare reverse stock split.
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