Over the course of the trading day, a number of companies may come onto the radars of investors in a big way, and one of those could be Know Labs Inc. (OTC:KNWN). The company was in the news cycle on Monday after it made an announcement with regards to a major stock restructuring move.
Reverse Stock Split
The company announced yesterday that it had opted for a reverse split of its issued, authorized, and outstanding shares of common stock at the ratio of 1:40. In the news release, the company also noted that the reverse stock split would go into effect on February 19, 2025, and hence, it would be a good idea to consider keeping an eye on the stock over the coming days. As a consequence, the stock would start trading on a split-adjusted basis from this morning for 20 days on a temporary basis under the ticker symbol KNWND.
Further Information
However, it was also noted that on January 29 this year, Know Labs had made an announcement that the Department of Market Operations of FINRA had assigned the ticker symbol KNWN. Following the temporary 20 days period, the stock will start trading under that symbol.
CEO Quote
Know Labs’s CEO, Ron Erickson, stated, “On several occasions, during my career, both as an investor and as a manager, I have experienced the impact of reverse stock splits. A reverse stock split is not something that I, or the Board of Directors, take lightly. We believe it is in the best interests of the Company to maintain its listing on the NYSE American. A reverse stock split is one component of our efforts to maintain that listing. Although I have an opinion, I will not speculate on the forces that have caused our stock price to diminish over time to a level that is unreflective of the value we have created at the company. We have developed a unique platform technology with significant patent protection and acknowledgment in peer-reviewed journals. Our intrinsic value is not appreciated by the public market. We expect near-term revenues from our recently announced Know Labs Technology Licensing (KTL) undertaking. Meanwhile, we continue to work on our medical diagnostic efforts with our focus on blood glucose monitoring. To all our shareholders, we want to express our sincere thanks for your support as we navigate the often-treacherous waters of the public marketplace.”
Technicals
| +/- EMA(20) | 3.93 (-63.10%) |
| +/- SMA(50) | 5.73 (-74.69%) |
| +/- SMA(200) | 12.85 (-88.72%) |
| 5-Day Perf. | -70.29% |
| 1-Month Perf. | -75.51% |
| 3-Month Perf. | -84.2% |
| 6-Month Perf. | -88.27% |
| YTD Perf. | -78.94% |
| 1-Year Perf. | -92.61% |
| RSI(14) | 32.01 |
| ATR(14) | 1.15 |
| ADX(14) | 23.73 |
