What's Going On With MicroCloud Hologram Stock?

MicroCloud Hologram Inc. (NASDAQ:HOLO) shares are falling Thursday after shareholders approved a 1-for-20 reverse stock split.

The Details:

MicroCloud Hologram announced on Wednesday that shareholders had approved the reverse stock split which is intended to regain compliance with the minimum bid price Nasdaq listing requirement. The stock will begin trading on a split-adjusted basis on Oct. 9, 2024. 

The reverse split will reduce the number of MicroCloud’s outstanding Class A ordinary shares from 410,883,973 shares to 20,544,198 shares. 

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