RAYA

Establishment of U.S. Subsidiary: Erayak Power Solution Group Inc. has launched its U.S. subsidiary, Nexora Group Inc., to enhance its global expansion and innovation strategy, serving as a regional headquarters in North America.

Focus on Innovation and Market Integration: Nexora will improve Erayak's sales, marketing, and logistics in North America, while fostering partnerships in power equipment and renewable energy sectors to develop advanced power solutions and expand into South America and Europe.

Upcoming Stock Splits: The week of September 29 to October 3 will see several companies implementing stock splits, including Leslie’s, Cemtrex, Lunai Bioworks, Erayak Power Solution Group, Predictive Oncology, and American Rebel Holdings, primarily as a strategy to comply with Nasdaq's minimum bid price requirements.

Types of Stock Splits: Companies are utilizing reverse stock splits to reduce share counts and increase share prices, which helps maintain compliance with exchange listing rules and can enhance investor perception, while traditional stock splits aim to make shares more accessible to retail investors.

Market Performance: U.S. stocks opened lower, with the Nasdaq Composite down over 1%, while the Dow and S&P 500 also experienced declines. Consumer staples saw a slight increase, but communication services stocks fell by 1.5%.

Jobless Claims and Economic Indicators: Initial jobless claims decreased by 14,000 to 218,000, and the U.S. economy grew at an annualized rate of 3.8% in Q2, surpassing previous estimates.

Notable Stock Movements: PepGen Inc. shares surged 107% following a public offering announcement, while SeaStar Medical's shares plummeted 50% after a trial recommendation. Other companies like SciSparc Ltd. and Plus Therapeutics also saw significant gains.

Global Market Trends: European and Asian markets mostly closed lower, with the eurozone's STOXX 600 down 0.8% and Japan's Nikkei 225 gaining slightly. Commodities like oil and gold also experienced minor declines.