Freight Technologies (FRGT) said Monday that its board approved a 1-for-25 reverse split of its issued and outstanding ordinary shares to raise the company's share price and meet Nasdaq's $1 minimum bid price requirement for continued listing.
The company said its shares will start trading on a split-adjusted basis on Wednesday.
Freight Technologies' shares dropped about 29% in recent trading.
Price: 0.08, Change: -0.03, Percent Change: -28.56
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