Bitcoin Firm Nakamoto Plots 1-for-40 Stock Split Following 99% Price Plunge
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Nakamoto, a Bitcoin treasury company, is planning a 1-for-40 stock split in an effort to reduce its share count and regain Nasdaq compliance, which requires a minimum stock price of at least $1. This drastic measure follows a 99% price plunge, aiming to stabilize the company's stock value and regain investor confidence in the cryptocurrency market.
Bitcoin treasury company Nakamoto aims to massively reduce its share count as it seeks a price of at least $1 to regain Nasdaq compliance.