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Trump family-backed American Bitcoin will implement a 1:15 reverse stock split to maintain its Nasdaq listing qualification.

WuSaidBlockchainW
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Abstract generation in progress
American Bitcoin, a bitcoin mining and reserve company backed by Eric Trump and Donald Trump Jr., announced it will implement a 1:15 reverse stock split next week to meet Nasdaq's minimum $1 share price requirement.
The stock split will take effect after Thursday's close, with Class A and Class B common shares consolidating every 15 shares into 1, reducing the number of outstanding shares from approximately 1.09 billion to about 73 million.
ABTC stock fell to an all-time low of approximately $0.64 on Wednesday, with a year-to-date decline of over 64%.
The company previously disclosed a net loss of $81.8 million in the first quarter due to unrealized losses on its bitcoin holdings.
As of now, the company holds approximately 7,500 BTC, making it the 16th largest publicly traded bitcoin holder globally. (The Block)
BTC2.08%
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GateUser-f2d5f4c0
· 3h ago
Reverse stock split old trick, crypto companies also play this game.
View OriginalReply0
GoToSleepAfterMinting
· 3h ago
The holding of 7,500 BTC is indeed substantial, and being ranked 16th is also considered a whale.
View OriginalReply0
Mirror-FinishTeacupWith
· 3h ago
Lost over 80 million in the first quarter, the term "unrealized losses" is quite a clever packaging.
View OriginalReply0
GateUser-276116e2
· 3h ago
0.64 has dropped to the point where you’d need a reverse split—this trend has holders’ mindset completely broken, right?
View OriginalReply0

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