SiriusXM’s Reverse Stock Split Sends Share Price Up 4.5% ...Middle East

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SiriusXM’s Reverse Stock Split Sends Share Price Up 4.5%
Sirius XM Holdings announced a 1-for-10 reverse stock split for its shareholders when it merges with Liberty Media’s SiriusXM Group tracking stock later this year, sending the streaming and satellite radio company’s stock up 4.5% on Tuesday (June 18). The stock split, which was announced in a filing on Sunday (June 16), is meant to reduce the overall share count and boost SiriusXM’s stock price. The Nasdaq-listed company has seen its stock price fall by more than 65% from a 52-week high of $7.95, leading the Nasdaq to drop SiriusXM from its Nasdaq-100 Index last Thursday (June 13). Related

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