✉news CultureEntertainment first seen 9 h ago, last 6 h ago, peak #10
Kustom Entertainment approves 1-for-10 reverse stock split
Original: Ten Kustom shares will become one as it seeks to meet Nasdaq's $1 minimum bid-price rule.
Kustom Entertainment has announced a 1-for-10 reverse share split intended to lift its stock price back above the $1 minimum bid required to keep its Nasdaq listing. The consolidation reduces the number of outstanding shares by a factor of ten without changing the company's overall market value, and investors are watching whether the move will secure its compliance and steady the share price.
Why now: The company is at risk of a Nasdaq delisting over its sub-$1 share price and the split is its remedy.
Evidence
- Ten Kustom shares will become one as it seeks to meet Nasdaq's $1 minimum bid-price rule. · Stock Titan
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