On 19 April 2023, Richemont went through a Share Consolidation (Reverse Stock Split).
That's why we saw the price move from R300 up to R3,027 (909%).
But before you get excited with whether you could have profited big time we need to remember what a Reverse Stock Split is...
What is a Reverse Split (Share consolidation)?
• The opposite of a stock split...
REMINDER: Compagnie Financière Richemont (CFR) is a Swiss luxury goods company that has a subsidiary in South Africa.
The subsidiary's depositary receipts and warrant receipts were previously listed and traded on the Johannesburg Stock Exchange (JSE).
However, starting from April 19th, 2023, these financial instruments will be suspended from trading on the JSE...
