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Merrimack Pharmaceuticals (MACK) has 2 splits in our MACK split history database. The first split for MACK took place on September 06, 2017. This was a 1 for 10 reverse split, meaning for each 10 shares of MACK owned pre-split, the shareholder now owned 1 share. For example, a 1000 share position pre-split, became a 100 share position following the split. MACK's second split took place on September 06, 2019. This was a 1271 for 1000 split, meaning for each 1000 shares of MACK owned pre-split, the shareholder now owned 1271 shares. For example, a 100 share position pre-split, became a 127.1 share position following the split.
When a company such as Merrimack Pharmaceuticals splits its shares, the market capitalization before and after the split takes place remains stable, meaning the shareholder now owns more shares but each are valued at a lower price per share. Often, however, a lower priced stock on a per-share basis can attract a wider range of buyers. If that increased demand causes the share price to appreciate, then the total market capitalization rises post-split. This does not always happen, however, often depending on the underlying fundamentals of the business. When a company such as Merrimack Pharmaceuticals conducts a reverse share split, it is usually because shares have fallen to a lower per-share pricepoint than the company would like. This can be important because, for example, certain types of mutual funds might have a limit governing which stocks they may buy, based upon per-share price. The $5 and $10 pricepoints tend to be important in this regard. Stock exchanges also tend to look at per-share price, setting a lower limit for listing eligibility. So when a company does a reverse split, it is looking mathematically at the market capitalization before and after the reverse split takes place, and concluding that if the market capitilization remains stable, the reduced share count should result in a higher price per share.
Looking at the MACK split history from start to finish, an original position size of 1000 shares would have turned into 127.1 today. Below, we examine the compound annual growth rate — CAGR for short — of an investment into Merrimack Pharmaceuticals shares, starting with a $10,000 purchase of MACK, presented on a split-history-adjusted basis factoring in the complete MACK split history.
Growth of $10,000.00
With Dividends Reinvested
|Average Annual Total Return:||-14.60%|
Growth of $10,000.00
Without Dividends Reinvested
|Average Annual Total Return:||-11.14%|
|About Merrimack Pharmaceuticals|
|Merrimack Pharmaceuticals is a biopharmaceutical company that receives payments related to its sale of: ONIVYDE® for the first-line treatment of metastatic adenocarcinoma of the pancreas, subject to certain conditions; ONIVYDE for the treatment of small-cell lung cancer after failure of first-line chemotherapy; and ONIVYDE for an additional indication unrelated to those described above; and payments related to its sale of MM-121 and MM-111 to Elevation Oncology, Inc. Co. does not have any ongoing research or development activities and is seeking potential acquirers for its remaining preclinical and clinical assets. According to our MACK split history records, Merrimack Pharmaceuticals has had 2 splits.|
|MACK Split History Table|
|09/06/2017||1 for 10|
|09/06/2019||1271 for 1000|
|Healthcare Stock Splits|
|MACK is categorized under the Healthcare sector; below are some other companies in the same sector that also have a history of stock splits:
Also explore: MACK shares outstanding history