American Bitcoin Shares Plunge 7.5% as Reverse Split Cuts Over 90% of Shares
ABTC•American Bitcoin Corp. shares plunged 7.5% to a fresh low as investors concluded trading ahead of a reverse split that will cut outstanding shares by over 90%. The Hut 8-backed miner, co-founded by Eric Trump, will execute the split to restructure its capital base.
1. Stock Price Plunge
Shares of American Bitcoin Corp. fell about 7.5%, hitting their lowest level on record as trading concluded ahead of the planned reverse split. The slump underscores investor uncertainty over the company’s upcoming capital structure adjustment.
2. Planned Reverse Split
The company will slash its share count by over 90% through a reverse split to restructure its capital base and reduce its outstanding float. Backed by Hut 8 and co-founded by Eric Trump, the miner aims to improve per-share metrics and strengthen its equity position.
