Earlyworks Co., Ltd. Sponsored ADR (ELWS) has released an update.
Earlyworks Co., Ltd., known for its proprietary Grid Ledger System blockchain, has announced a one-for-five reverse ADS split, effective May 16, 2024, aimed at boosting liquidity and complying with Nasdaq’s minimum bid price requirement. The company is also appealing a Nasdaq delisting notice, with a hearing scheduled for June 18, 2024. This strategic move is expected to proportionally increase the ADS trading price, with no guarantee of liquidity improvement or price stabilization.
For further insights into ELWS stock, check out TipRanks’ Stock Analysis page.
