Algorhythm Holdings (RIME) said Wednesday it would implement a 1-for-200 reverse stock split, effective Feb. 10.
The reverse split will help the company meet Nasdaq's $1 minimum bid price listing requirement, the company said.
Shares of the company fell nearly 14% in recent trading.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.