Why Is Etao International (ETAO) Stock Up 149% Today?

Etao International (NASDAQ:ETAO) stock is taking off on Wednesday after the company revealed plans for a reverse stock split.According to the company’s press release, it’s moving forward with a reverse stock split that was approved by shareholders during a Feb. 16, 2024 meeting. This has it planning to consolidate 20 shares of ETAO stock into a single share.The timing of the reverse stock split is a bit confusing and unclear in the company’s news release. The headline claims the reverse split will go into e ...