Broker LiteFinance announced a four-to-one reverse stock split of 3M (#MMM) shares scheduled for April 1, 2024, after the close of trading in the United States.

"As a result, the #MMM share price will quadruple at the time of the reverse split," the company said in a statement.

The broker stressed that it does not yet plan to offer shares of the new company, Solventum, for trading.

In addition, LiteFinance asks all traders who have open positions on #MM to pay attention to the following:

- The volume of open positions at the time of the reverse split will be reduced four times in proportion to the consolidation of the shares.

- The entry price for trades open at the time of the reverse split will be quadrupled in proportion to the share consolidation.

- Stop Loss and Take Profit orders on open positions will be removed at the time of the reverse stock split.

- Close Only mode will be set until the reverse split.

- All pending orders (Buy Limit, Sell Stop, Buy Stop, Sell Stop, Buy Stop Limit, and Sell Stop Limit) will be removed during the reverse split.

- #MMM stocks with new parameters will be available for trading without any restrictions from April 1, 2024.

Broker LiteFinance was founded in 2005 and provides its clients with innovative solutions for active and passive trading. The company has offices in Singapore, Indonesia, Kenya, Kyrgyzstan, Mongolia, Morocco, Myanmar, Thailand, Vietnam, and several other countries.