Treasure Global Inc Surges After Reverse Stock Split Announcement
Treasure Global Inc's stock price increased by 119.69%, reaching a 20-day high in pre-market trading. This surge follows the company's announcement of a 1-for-20 reverse stock split aimed at boosting its share price.
The reverse stock split, approved by shareholders, is intended to enhance market confidence and improve liquidity by increasing the per-share value. Following the split, the number of outstanding shares will decrease significantly, which may attract more investor interest despite the company's ongoing compliance risks with Nasdaq.
This strategic move reflects the company's efforts to align with Nasdaq's minimum bid requirement and could potentially stabilize its market position. However, investors should remain cautious about the long-term implications of compliance risks that may affect future performance.
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