Core Points - Ault Alliance's stock is experiencing a decline following the results from its annual shareholder meeting [1] - All seven directors for the Board were approved by stockholders, and Marcum LLP was approved as the independent registered public accounting firm [1] - A reverse stock split was approved by investors at a rate of no less than one-for-five and no more than one-for-twenty-five, with the Board deciding the exact ratio [1] Reverse Stock Split Details - The Board announced a one-for-25 reverse stock split, effective immediately, with shares trading on a split-adjusted basis starting the next day [2] - Post-split, shares will trade under the CUSIP number 09175M 507, with no change in percentage of ownership [2] - Approximately 3 million shares of AULT stock changed hands on the announcement day, below the daily average trading volume of about 17.5 million shares [2] - AULT stock is down 19.1% as of Tuesday morning [2]
Why Is Ault Alliance (AULT) Stock Down 19% Today?