What's Going On With Reliance Global Stock After Its Reverse Split?

Reliance Global Group, Inc. RELI shares are trading higher Monday. The stock began trading on a 1-for-17 reverse split-adjusted basis at Monday's opening bell. 

What To Know:

Reliance Global also announced the creation of a new Real Estate division intended to supplement, and not replace, its focus on acquiring accretive and cash flow positive insurance agencies. Reliance said it plans to launch the real estate division following the completed acquisition of Spetner Associates, expected to close in the second half of 2024. 

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“We are excited to launch a significant initiative—a new division within Reliance dedicated to the acquisition and development of multi-family and commercial real estate properties. We are also pleased to announce that Abe Miller will be joining the Company to head this division and provide strategic guidance on our future real estate endeavors," commented Ezra Beyman, CEO of Reliance.

Should I Sell My RELI Stock?

Whether to sell or hold a stock largely depends on an investor's strategy and risk tolerance. Swing traders may sell an outperforming stock to lock in a capital gain, while long-term investors might ride out the turbulence in anticipation of further share price growth.

Similarly, traders willing to minimize losses may sell a stock that falls a certain percentage, while long-term investors may see this as an opportunity to buy more shares at a discounted price.

Shares of Reliance Global Group have lost 95.09% year to date. This compares to the average annual return of -83.95%, meaning the stock has underperformed its historical averages. Investors can compare a stock's movement to its historical performance to gauge whether this is a normal movement or a potential trading opportunity.

Investors may also consider market dynamics. The Relative Strength Index can be used to indicate whether a stock is overbought or oversold. Reliance Global Group stock currently has an RSI of 37.95, indicating neutral conditions.

For analysis tools, charting data and access to exclusive stock news, check out Benzinga PRO. Try it for free.

RELI Price Action: According to Benzinga Pro, Reliance Global Group shares are up 10% at $4.23 at the time of publication Monday.

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