YY Group Holding shares fell 40% to $0.08 on Thursday after the company announced it will implement a 30-for-1 reverse stock split effective June 23. The reverse split will reduce the number of outstanding Class A shares to about 3.2 million from roughly 96.05 million, while leaving shareholders' proportional ownership unchanged. The company said the move is intended to help it regain compliance with Nasdaq's $1 minimum bid price requirement. Shares will continue trading under the ticker symbol YYGH.
YY Group Holding Limited Class A Ordinary SharesThe company announced a 30-for-1 reverse stock split, which typically signals financial distress and caused a 40% drop in share price.