Trust Stamp (NASDAQ:IDAI) announces a 15-for-1 reverse stock split to enhance marketability and liquidity.
The stock price of IDAI has seen significant fluctuations, with a current price of $0.57 after a decrease of approximately 16.54%.
With a market capitalization of approximately $14.38 million, the reverse stock split aims to attract more investors by improving the stock’s appeal.
Trust Stamp, trading under the symbol NASDAQ:IDAI, is a global provider of AI-powered technologies. The company focuses on developing innovative solutions for identity verification and fraud prevention. Trust Stamp competes with other tech firms in the AI and security sectors, striving to offer unique and effective products to its clients.
On January 6, 2025, Trust Stamp will undergo a reverse stock split at a 15-for-1 ratio. This means that every 15 shares of IDAI will be consolidated into one share. This corporate action, approved by the board and shareholders, aims to enhance the stock’s marketability and trading liquidity, as highlighted by GlobeNewswire.
Currently, IDAI is priced at $0.57, having decreased by approximately 16.54%, or $0.113. The stock has fluctuated between $0.46 and $0.587 during the day. Over the past year, it reached a high of $2.50 and a low of $0.149. The reverse stock split could help stabilize these fluctuations by reducing the number of shares available.
IDAI’s market capitalization is approximately $14.38 million, with a trading volume of 10,492,981 shares. By consolidating shares, Trust Stamp aims to improve its stock’s appeal to investors, potentially leading to increased interest and investment in the company.
