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Investing.com -- AgriFORCE Growing Systems Ltd. (NASDAQ:AGRI) stock tumbled 9.4% after the company announced its Board of Directors approved a 1-for-9 reverse stock split, effective July 28, 2025.
The reverse split, which was approved by shareholders on June 6, 2025, will automatically combine every nine outstanding common shares into one share. The company stated that the move is being implemented to comply with Nasdaq’s minimum bid price requirement under Listing Rule 5550(a)(2).
AgriFORCE currently has 7,851,398 shares outstanding, which will be reduced to approximately 872,377 shares following the implementation of the reverse split. The change will take effect at market open on July 28.
Reverse stock splits are typically implemented to increase a company’s share price by reducing the number of outstanding shares, often to maintain compliance with exchange listing requirements. While they don’t change a company’s underlying value, such moves are frequently viewed negatively by investors as they can signal financial difficulties.
The Nasdaq listing rule referenced by AgriFORCE requires listed companies to maintain a minimum bid price of $1.00 per share.
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