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Investing.com -- ECD Automotive Design Inc. (NASDAQ:ECDA) stock plunged 33.7% in premarket trading Monday following the company’s announcement of a 1-for-40 reverse stock split.
The reverse split, which takes effect at market open on September 18, 2025, aims to boost the per-share trading price to meet Nasdaq’s $1.00 minimum bid price requirement for continued listing. The move will reduce ECD’s outstanding shares from approximately 59.1 million to about 1.48 million, while maintaining the same number of authorized shares and par value.
ECD Automotive Design, which describes itself as the world’s largest Land Rover and Jaguar restoration company, received shareholder approval for the reverse split at its annual meeting on July 22, 2025. The company specializes in custom luxury builds including bespoke Defenders, Range Rovers, Jaguar E-Types, Ford Mustangs, and Toyota FJs.
Shareholders holding shares electronically in book-entry form won’t need to take action, while those with certificated shares will receive instructions from Continental Stock Transfer and Trust, the company’s transfer agent. No fractional shares will be issued, with fractional shares rounded up to the nearest whole share.
The stock will continue trading on the Nasdaq Capital Market under the existing "ECDA" symbol but with a new CUSIP number: 27877D104.
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