Wunong Net Technology stock hits 52-week low at $1.35

Wunong Net Technology Co Ltd (WNW) shares tumbled to a 52-week low, touching down at $1.35 amidst a challenging market environment. InvestingPro analysis indicates the stock is currently in oversold territory, with a Price/Book ratio of just 0.3. The stock, which has been under considerable pressure, reflects a stark contrast from its previous performance, marking a significant downturn over the past year. Investors have witnessed a dramatic decline in the company's stock value, with the 1-year change data revealing a staggering -93.71% drop. Despite maintaining a healthy gross profit margin of 45.29% and holding more cash than debt, the company faces challenges with a dramatic 98.14% revenue decline. InvestingPro subscribers can access 15+ additional key insights about WNW's financial health and future prospects.

In other recent news, Meiwu Technology Company Limited has announced a reverse stock split, which will consolidate every 20 existing shares into one new share. This corporate action, approved by the board, is set to take effect on April 1, 2025, and aims to increase the market price of the company's shares. Following the reverse split, the number of outstanding shares will reduce from approximately 63.3 million to about 3.2 million. The company has clarified that shareholders holding pre-split shares electronically will not need to take any action, while those with paper certificates will receive new ones. This move comes as Meiwu Technology faces a potential Nasdaq delisting due to its share price remaining below $1.00 for 30 consecutive business days. To regain compliance, the company must increase its share price to at least $1.00 for 10 consecutive business days before August 26, 2025. Meiwu Technology has not detailed its plans to address this compliance issue, but the possibility of a reverse stock split was mentioned. These developments follow the company's strategic shift to the skincare industry through its subsidiary, Xiamen Chunshang Health Technology Co., Ltd.

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