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Why VEREIT Stock Rocketed Higher at the Open Today

Why VEREIT Stock Rocketed Higher at the Open Today

This price move was expected well in advance and is virtually meaningless. On Nov. 5, when the net-lease real estate investment trust (REIT) announced its third-quarter earnings, management also released plans to do a 1-for-5 reverse stock split. Stock splits don't actually change anything other than the number of shares.