BUZZ-Elevai Labs falls after announcing 1-for-200 stock split
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Shares of Elevai Labsfell 14% to 2 cents following the announcement of a 1-for-200 reverse stock split, effective at midnight on Nov. 27, aimed at complying with Nasdaq’s minimum bid price rule. Additionally, the company withdrew its offer to exchange 15 million common shares for Series B preferred stock due to logistical issues and will consider a new exchange offer. ELAB stock has nearly halved in value this year.
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