ALIT is trading about 7% up at $0.56 as investors reassess the impact of its recently announced 1-for-20 reverse stock split.
- The reverse split, announced June 18, 2026, is scheduled to become effective on June 30, 2026, with split-adjusted trading beginning July 1, 2026. It aims to lift the share price to meet NYSE listing requirements and support potential index inclusion.
- Shares are rebounding following a sharp multi-day slide driven by initial selling pressure and broader tech sector risk-off sentiment after the announcement.