StockNews.AI
GITS
StockNews.AI
209 days

CORRECTION: Global Interactive Technologies, Inc. Announces 1-for-20 Reverse Stock Split

1. Correction issued regarding fractional shares in Reverse Stock Split. 2. Cash payments will replace fractional shares instead of rounding up.

2m saved
Insight
Article

FAQ

Why Neutral?

The correction clarifies the cash payment policy, minimizing confusion but not significantly affecting stock price. Similar past corrections have led to stability rather than volatility.

How important is it?

The correction is significant for shareholder understanding, but it doesn't change the fundamental value. Prior similar adjustments did lead to temporary fluctuations in investor sentiment but were quickly forgotten.

Why Short Term?

The immediate impact addresses shareholders' concerns but won't affect long-term valuation. Previous stock splits had limited lasting effects on overall stock trends.

Related Companies

GITS
Explanatory Note The press release we issued in the evening of January 22, 2025, inadvertently contained an error by incorrectly stating that no fractional shares will be issued in connection with the Reverse Stock Split and all fractional shares will be rounded up. The press release should have stated that stockholders who would otherwise be entitled to receive fractional shares as a result of the Reverse Stock Split will be entitled to a cash payment in lieu thereof.

Related News