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

1. GITS will perform a 1-for-20 reverse stock split effective January 27, 2025.

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FAQ

Why Neutral?

Reverse stock splits can stabilize stock prices but may also indicate weakness, as seen with past examples like Citigroup's split in 2011.

How important is it?

The reverse stock split aims to improve GITS' market perception, though effects can vary.

Why Short Term?

Market reactions to reverse splits typically occur quickly, evidenced by companies like Viacom in 2021.

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GITS
SEOUL, KOREA / ACCESS Newswire / January 22, 2025 / Global Interactive Technologies, Inc. (Nasdaq:GITS) ("Global Interactive" or the "Company"), a media-tech company and creator of FANTOO, an all-in-one social media experience connecting k-culture fans globally, today announced that it will effect a 1-for-20 reverse stock split ("Reverse Stock Split") of its issued and outstanding shares of common stock, par value $0.0001 per share ("Common Stock"). The Reverse Stock Split will become effective at 12:01am, Eastern Time, on January 27, 2025.

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