Paranovus Entertainment Technology Ltd (NASDAQ:PAVS) gained 0.87% in pre-market trading on Wednesday, rising to $0.023.
Check out the current price of PAVS stock here.
According to the Benzinga Pro data, the stock closed on Tuesday at $0.023, down 36.64%.
Reverse Split Mechanics
Paranovus announced on Tuesday that it will execute a 1-for-100 reverse share split of Class A ordinary shares effective at market open on Thursday.
The reverse split will reduce the number of outstanding Class A shares from 350 million to approximately 3.5 million.
Shares will begin trading on a split-adjusted basis on Nasdaq under the symbol