Tidal Financial Group Announces Reverse Stock Split for Defiance Daily Target 2X Short MSTR ETF (Ticker: SMST)
Defiance Daily Target 2x Short MSTR ETF (SMST)
Company Research
Source: GlobeNewswire
CHICAGO, Nov. 08, 2024 (GLOBE NEWSWIRE) -- Tidal Financial Group today announced that the Board of Trustees of Tidal Trust II (the Trust) has approved a reverse stock split for the Defiance Daily Target 2X Short MSTR ETF (SMST), which trades on The Nasdaq Stock Market, LLC. The reverse stock split is expected to take effect after the close of trading on the Nasdaq on November 15, 2024. The reverse split will be conducted at a ratio of 1-for-5, meaning that every 5 shares of SMST will be consolidated into one share. This will result in an approximate 80% decrease in the total number of outstanding shares. Consequently, the per-share net asset value (NAV) and opening market price will be adjusted to reflect the split, increasing by roughly five times their pre-split values. SMST shares will begin trading on a split-adjusted basis on November 18, 2024. The reverse split is intended to streamline the fund’s share structure and make its shares more accessible to a broader range of
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