Alpha Modus (AMOD) will implement a 1-for-40 reverse stock split of its Class A shares to restore compliance with Nasdaq listing requirements, the company said in a Monday filing.
The move is aimed at meeting Nasdaq's $1 minimum bid price requirement and will take effect June 15, when shares begin trading on a split-adjusted basis, it added.
Alpha Modus shares were down about 25% in premarket activity.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.