Nakamoto NAKA, a Bitcoin treasury firm listed on the stock market, is set to implement a significant reverse stock split. This decision, approved by shareholders, aims to bolster the company's stock price and ensure compliance with Nasdaq regulations. The source notes that this move comes in response to a recent decline in the company's market value.
Reverse Stock Split Announcement
The reverse stock split will occur at a ratio of 1-for-40, following a special meeting held on May 8, where shareholders voted on various split ratios ranging from 1-for-20 to 1-for-50. The effective date for this split is scheduled for May 22, 2023.
Strategic Response to Share Price Decline
This strategic move comes in response to the company's shares plummeting to an all-time low of $0.145. By executing the reverse split, Nakamoto NAKA aims to elevate its share price to at least $100, aligning with Nasdaq's listing requirements. As a result of the split, the total number of outstanding shares will decrease dramatically from 69.61 million to approximately 1.74 million.
Nakamoto recently reported a remarkable revenue increase of over 500% in Q1 2026, despite facing significant losses, highlighting its resilience amid financial challenges. This contrasts with the company's recent decision to implement a reverse stock split to stabilize its share price. For more details, see further information.
