Ault Alliance shares fell to a 52-week low Tuesday after the company’s Friday announcement of a 1-for-25 reverse stock split.
Trading on a split-adjusted basis is expected to start Wednesday.
Prior to a trading halt, the stock was down 23% to 5 cents, which marked the 52-week low. The price is down roughly 99.8% over the past 52 weeks. Ault Alliance completed a 1-for-300 reverse split in May.
Ault Alliance’s operations include bitcoin mining and colocation and hosting services. In a November proxy filing, the company said a reverse split would enhance its ability to meet NYSE American listing requirements and broaden the appeal of its stock to institutional and other investors.