Why Is Nauticus Robotics (KITT) Stock Down 19% Today?
KITTNauticus Robotics(KITT) Investor Place·2024-07-19 20:12

Nauticus Robotics (NASDAQ:KITT) stock is taking a beating on Friday after the ocean robots and cloud services company announced plans for a reverse split of its shares.Nauticus Robotics will enact a one-for-36 reverse stock split for KITT shares after markets close on Monday. That will see it consolidate 36 shares of its common stock into a single share.The reverse stock split won’t change the stakes of investors in the company. Also, any fractional shares that would be issued will be rounded up to a single ...