Megan Holdings Limited (NASDAQ:MGN) shares are trending on Tuesday night. MFN shares surged 92.05% to $0.33 in after-hours trading.
According to Benzinga Pro data, the stock of the engineering and construction company experienced an intraday gain of 29.74% at $0.17.
Volume for the day surged to 286.89 million shares, approximately 51.3 times the stock’s average daily volume of 5.59 million shares, indicating exceptionally strong trading activity.
Reverse Split In Focus
The spike follows a Securities and Exchange Commission filing on June 18, revealing the Kuala Lumpur-based company is seeking shareholder approval for a reverse stock split of up to 1-for-400 at its Jul. 13 Annual General Meeting.
