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via The Block · By The Block Editorial

David Bailey's Nakamoto bitcoin treasury announces 1-for-40 reverse split as shares hit new lows

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$63,025.42

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24h Volume

$2,183,109,539.23

24h H/L

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Change: $228.42 (0.36%)

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Long: 68.0%Short: 32.0%

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Longs pay

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Pivot (PP):$63,064.66

Trend:Downtrend

RSI (14):42.5

The Block Editorial

(07:22 PM UTC)

1 min read

Reviewed byDavid Kim

0 comments

Nakamoto Inc (Nasdaq: NAKA) said Wednesday that it will enact a 1-for-40 reverse stock split later this week as the bitcoin (BTC) treasury company's shares continue to slide further below Nasdaq's minimum listing threshold.

The reverse split takes effect at market open on Friday and will keep the same NAKA ticker symbol.

The move is intended to help the company regain compliance with Nasdaq's $1…

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