Globavend Holdings Rallies 37.99% in After-Hours Trading Following Reverse Stock Split

Globavend Holdings Limited (NASDAQ:GVH) stock experienced a surge in after-hours trading. The company’s stock price rose by 37.99% to $9.88.

Check out how GVH stock is trading here.

What Happened: The surge in stock price follows the company’s recent announcement of a 1-for-200 reverse stock split. This decision was made by the company’s board of directors and approved by the majority of its shareholders at an extraordinary general meeting held on April 28. The reverse stock split will be effective from July 21.

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As a result of the reverse stock split, the number of outstanding shares of the Australia-based e-commerce logistics company ...