X3 Holdings (XTKG) said Friday it will implement a 1-for-6 reverse stock split, effective at the start of Tuesday trading on Nasdaq.
Following the share consolidation, X3 Holdings said it will reduce the par value of its ordinary shares to $0.00003 from $48 through a cancellation of paid-up capital.
The company said its shares will continue to trade the XTKG ticker.
The stock fell 21% in recent Friday trading as intraday volume topped 77.2 million shares, compared with the daily average of almost 4.73 million.
Price: 0.13, Change: -0.04, Percent Change: -21.34