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Video: What is a Stock Split?
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GRI Bio is a clinical-stage biopharmaceutical company primarily focused on the development and commercialization of biopharmaceutical products. Co. is developing medications for central nervous system disorders with a focus on abuse-deterrent medications. Co.'s primary investigational product candidate, ADAIR, is a proprietary, abuse-deterrent oral formulation of immediate-release dextroamphetamine (the main active ingredient in Adderall®) for the treatment of attention-deficit/hyperactivity disorder and narcolepsy. ADAIR is designed to deter attempts to crush and snort and to provide barriers to injection while still providing the therapeutic benefit when taken orally. According to our GRI split history records, GRI Bio has had 2 splits. | |
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GRI Bio (GRI) has 2 splits in our GRI split history database. The first split for GRI took place on April 24, 2023. This was a 1 for 30 reverse split, meaning for each 30 shares of GRI owned pre-split, the shareholder now owned 1 share. For example, a 1000 share position pre-split, became a 33.3333333333333 share position following the split. GRI's second split took place on January 30, 2024. This was a 1 for 7 reverse split, meaning for each 7 shares of GRI owned pre-split, the shareholder now owned 1 share. For example, a 33.3333333333333 share position pre-split, became a 4.76190476190476 share position following the split.
When a company such as GRI Bio conducts a reverse share split, it is usually because shares have fallen to a lower per-share pricepoint than the company would like. This can be important because, for example, certain types of mutual funds might have a limit governing which stocks they may buy, based upon per-share price. The $5 and $10 pricepoints tend to be important in this regard. Stock exchanges also tend to look at per-share price, setting a lower limit for listing eligibility. So when a company does a reverse split, it is looking mathematically at the market capitalization before and after the reverse split takes place, and concluding that if the market capitilization remains stable, the reduced share count should result in a higher price per share.
Looking at the GRI split history from start to finish, an original position size of 1000 shares would have turned into 4.76190476190476 today. Below, we examine the compound annual growth rate — CAGR for short — of an investment into GRI Bio shares, starting with a $10,000 purchase of GRI, presented on a split-history-adjusted basis factoring in the complete GRI split history.
Growth of $10,000.00
Without Dividends Reinvested
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Start date: |
02/11/2021 |
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End date: |
04/26/2024 |
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Start price/share: |
$1,596.00 |
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End price/share: |
$0.43 |
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Dividends collected/share: |
$0.00 |
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Total return: |
-99.97% |
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Average Annual Total Return: |
-92.32% |
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Starting investment: |
$10,000.00 |
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Ending investment: |
$2.69 |
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Years: |
3.20 |
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Date |
Ratio |
04/24/2023 | 1 for 30 | 01/30/2024 | 1 for 7 |
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