April 3rd - $NFT Ltd (MI.US)$ is about to implement a 1-for-50 reverse stock split of shares. The shares will begin trading on a split-adjusted basis from April 12th, 2024.
$NFT Ltd (MI.US)$ slipped 0.76% and closed at $0.156 on April 2nd with a turnover of $34,479. $NFT Ltd (MI.US)$ now has a total market capitalization of $24.1 million.
What Is a Reverse Stock Split?
A reverse stock split consolidates the number of existing shares of stock held by shareholders into fewer shares. It does not directly impact a company's value. And it can signal a company in distress since it raises the value of otherwise low-priced shares.
Note:
The company's actual implementation is subject to the final disclosure submitted to the exchange. The information provided herein is for reference only.