By Dean Seal
Shares of Infobird fell in the hours before the company put its reverse stock split on hold over regulatory concerns.
The stock was down 22%, at $2.94, in midday trading. Share fell as low as $2.24 in the half hour after the market opened, with trading paused multiple times for volatility.
The Hong Kong-based customer engagement software provider then said at noon that it would push the effective date of its 1-for-8 reverse stock split, originally scheduled for after the market closed on Monday, to March 4.
The company cited an unanticipated delay in obtaining necessary regulatory clearances.
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