Figma Shares Indicated To Open $105/$110
In a challenging year for Future FinTech Group Inc. (FTFT), the company's stock has hit a 52-week low, trading at $1.20. According to InvestingPro data, the company's financial health score is rated as WEAK, with concerning metrics including negative EBITDA of -$14.16M and revenue decline of -41.8% in the last twelve months. This price level reflects a significant downturn for the global blockchain-based e-commerce business and a financial technology service provider, as the stock has plummeted by -83.18% over the past year. Investors have been wary of the stock's performance, which has been marred by broader market volatility and sector-specific headwinds. The steep year-on-year decline has raised concerns about the company's future prospects and its ability to navigate the rapidly evolving tech landscape. While trading at a low Price/Book multiple of 0.08, InvestingPro analysis reveals 12 additional key insights about FTFT's valuation and future prospects.
In other recent news, Future FinTech Group Inc. announced a 1-for-10 reverse stock split, effective as of 1:00 pm ET on April 1, 2025. This adjustment, filed with the Florida Secretary of State's office, reduces the number of authorized common shares from 60 million to 6 million, and the issued and outstanding shares from approximately 30.08 million to around 3.01 million. The par value of the common stock remains unchanged, and no fractional shares will be issued, as they will be rounded up. This corporate action was taken primarily to ensure compliance with the Nasdaq Marketplace Rule 5550(a)(2), which deals with the minimum bid price requirement for listed securities. The Board of Directors approved the reverse stock split without shareholder approval, as permitted by the Florida Business Corporation Act. Future FinTech shares will begin trading on a post-split basis under the existing ticker symbol "FTFT" at the Nasdaq Stock Market on April 4, 2025. The new CUSIP number for the post-split shares is 36117V3033. The preferred shares remain unaffected by this change, with the authorized number staying at 10 million, none of which are currently issued.
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