Nakamoto Reverse Stock Split as it Faces Nasdaq Delisting
Cointelegraph
Nakamoto is implementing a 1-for-40 reverse stock split to boost its share price and avoid delisting from the Nasdaq exchange.Summary
Bitcoin treasury firm Nakamoto is executing a 1-for-40 reverse stock split to address falling share prices that have dropped below the Nasdaq's $1 minimum requirement. By consolidating shares, the company aims to regain compliance and avoid delisting by the June 8 deadline. The move follows a challenging period for the firm, which reported a $238.8 million net loss in the first quarter, largely driven by mark-to-market losses on its Bitcoin holdings.
(Source：Cointelegraph)