The Wall Street Journal: Alcoa plans to boost stock with 1-for-3 reverse split

Alcoa Inc. plans to cut the number of its publicly traded shares with a 1-for-3 reverse stock split, as the aluminum maker prepares to split into two companies.

The company said in a prepared statement that it was making the move in hopes of increasing its stock price, “which may improve liquidity and facilitate its trading.”

Alcoa AA, +0.66% will hold a special shareholder meeting on Oct. 5 to seek approval of the reverse stock split and authorized share count reduction.

Shares of the company, which have sagged 5% over the past three months, have been hurt by a supply glut of aluminum.

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