Why Infobird Shares Are Exploding Higher Thursday

Infobird Co Ltd IFBD shares are trading higher by 26.90% to $0.47 during Thursday's after-hours session after the company announced a 1-for-5 reverse stock split effective on September 9th.

Infobird says, beginning with the opening of trading on September 9th, the company's ordinary shares will begin trading on a post-Share Consolidation basis on the Nasdaq Capital Market under the same symbol "IFBD."

Infobird added that the company's board of directors approved the Share Consolidation on August 10th, 2022, and its shareholders on September 6th, 2022.

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According to data from Benzinga Pro, Infobird has a 52-week high of $2.91 and a 52-week low of $0.32.