Cheer Holding (CHR) Stock Jumps Over 9% After Hours: Here's Why
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Cheer Holding, Inc. (CHR) shares rose 9.42% after hours to $0.87 following a 1-for-3 reverse stock split effective April 6, aimed at maintaining its Nasdaq listing. The consolidation reduces outstanding Class A shares from 4.69 million to 1.56 million, with trading under the unchanged ticker "CHR" starting April 7. Despite the after-hours surge, reverse splits often indicate underlying share price weakness, and CHR has dropped 98.82% over the past year. The stock closed at $0.80, down 7.56%, and is near its annual low.
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