Nakamoto Inc Announces 1-for-40 Reverse Split as Shares Hit $0.16, Down 99.5% From Peak

NAKA0.45%
BTC0.97%
According to The Block, Nakamoto Inc (Nasdaq: NAKA) announced Wednesday that it will execute a 1-for-40 reverse stock split effective Friday to regain compliance with Nasdaq's $1 minimum listing requirement. NAKA shares fell more than 17% to $0.16 immediately after the announcement before recovering. The stock is now down roughly 99.5% from the $29 highs recorded last May when the bitcoin treasury company announced its merger with KindlyMD and subsequent BTC accumulation strategy.
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