$Qualigen Therapeutics (QLGN.US)$ why suddenly my unit is lo...

rmgm : Your stocks are divided by 50 . Reverse stock split on the 5th of November

Moomoo Buddy : Hi there, this is because of the corporate action to reverse split,  which means the number of the existing shares after the reverse stock splits are completed will be less. Thanks.

101868058 OP rmgm : i not understand

101868058 OP Moomoo Buddy : i not understand

Moomoo Buddy 101868058 OP : Hi there, A reverse split is a corporate action where a company reduces the number of its outstanding shares, which increases the share price proportionally. For example, in a 1-for-50 reverse split, fifty shares become one share, but the total value remains the same.
Companies typically implement reverse splits to improve their share price, meet exchange listing requirements, or reduce volatility. Hope this clarified. Thank you.