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Chimera Investment Shares Fall on 1-for-3 Reverse Stock Split News


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Published in Stocks and Investing on by MarketWatch   Print publication without navigation

By Sabela Ojea Shares of Chimera Investment fell in post-market trading Friday after the company said it would initiate a 1-for-3 reverse split of its common...

Chimera Investment Corp.'s shares experienced a decline following the announcement of a 1-for-3 reverse stock split, which was set to take effect on May 20, 2024. The reverse split was approved by the company's board to meet the New York Stock Exchange's minimum price requirement. As a result of the split, shareholders will receive one share for every three they currently hold, effectively tripling the stock's price per share. The move aims to increase the stock's appeal to investors and stabilize its market position, despite the immediate negative impact on share value.

Read the Full MarketWatch Article at:
[ https://www.marketwatch.com/story/chimera-investment-shares-fall-on-1-for-3-reverse-stock-split-news-d51bccb7 ]

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