Nakamoto’s reverse split will shrink outstanding shares to about 17.4 million from roughly 696 million, following a 99.5% price drop.

Nakamoto Inc. executes a 1-for-40 reverse stock split on May 22 to meet Nasdaq's $1 minimum bid price after shares dropped to $0.22.

Nakamoto’s reverse split will shrink outstanding shares to about 17.4 million from roughly 696 million, following a 99.5% price drop.