Nakamoto Plans 1‑for‑40 Reverse Split to Meet $1 Nasdaq
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- Nakamoto (NAKA) announced a 1‑for‑40 reverse stock split, approved by shareholders on May 8, to lift its share price above Nasdaq’s $1 minimum.
- The split will cut outstanding shares from 696.1 million to 17.4 million, with an effective date of May 22.
- Nakamoto’s stock fell to $0.145 during the day, a 7.5% drop, leaving it more than 99.5% below its 52‑week high of $34.77.
- The firm reported Q1 losses of roughly $239 million, driven by Bitcoin’s price decline, and sold $20 million of BTC in Q4 and $22 million in Q1.
- Nakamoto’s treasury still holds >5,000 BTC worth $388 million, while Bitcoin trades around $77,927, up 1.6% in 24 h but still 38% below its October peak.
Why it matters: Shareholders gain a chance to retain Nasdaq listing as the split lifts the share price above $1, while the firm loses market value as its stock sits 99.5% below its 52‑week high, prompting further investor scrutiny.
