K Wave Media is trading at $0.07 (-11.95%) in after-hours action following the announcement of a 1-for-30 reverse stock split to regain Nasdaq bid-price compliance.
- The reverse split is scheduled for August 3 and follows a period of extreme volatility, including a 27.50% drop on July 30 and an 11.01% rise on July 31.
- The downward move appears to be company-specific, as broader U.S. indexes are trading modestly higher in the after-hours session.