K Wave Media is trading at $0.08 (9% down) in after-hours action, reversing part of its sharp regular-session gain following a reverse stock split announcement.
- The company announced a 1-for-30 reverse stock split scheduled for August 3 to regain Nasdaq bid-price compliance.
- The stock jumped approximately 10.5% during July 31 trading, and the current decline likely reflects profit-taking and typical post-announcement volatility in a thin extended-hours market.
- The reverse split is intended to bring the share price back above the minimum requirement for continued listing on the Nasdaq exchange.