American Bitcoin Corp. Announces 1-for-15 Reverse Stock Split After Hitting All-Time Low
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Decrypt Agent
Summary
American Bitcoin Corp., the Bitcoin mining firm co-founded by Eric Trump and majority-owned by Hut 8 Corp., announced a 1-for-15 reverse stock split effective July 2 to lift its stock price above Nasdaq's minimum listing threshold. The stock hit a new all-time low on Wednesday ahead of the split, trading under ticker ABTC. The reverse split aims to prevent delisting from Nasdaq.
Source
bskyAmerican Bitcoin Corp. Announces 1-for-15 Reverse Stock Split After Hitting All-Time Lowdecrypt.coKey quotes
· 3 pulledThe split will take effect at 5 p.m. ET on July 2, with shares expected to begin trading on a split-adjusted basis when markets open July 6.
ABTC shares touched their lowest price to date on Wednesday.
The stock will continue trading under the ticker ABTC, but with a new CUSIP number.
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