Lunai Bioworks executed a 1-for-8 reverse split on May 22, reducing its float from 36.3 million to 4.5 million shares and regained Nasdaq’s $1 minimum bid requirement, sparking a pre-market rally above 100% and an 80.9% after-hours jump. Stocktwits messages surged almost 20,000%, with traders eyeing a $10 target.
At a special stockholders meeting on May 8, investors approved a reverse split range of 1-for-3 to 1-for-30, with the board choosing a 1-for-8 ratio. The split took effect on May 22, cutting outstanding shares from approximately 36.3 million to about 4.5 million.
Following the split, Nasdaq confirmed Lunai Bioworks met its $1 minimum bid price requirement, removing its listing overhang. The company now enters a one-year monitoring period during which any future non-compliance could lead directly to a delisting notice without extension.
Shares surged over 100% in pre-market trading and climbed an additional 80.9% after hours, marking the largest single-day gains in three months if sustained. Meanwhile, Stocktwits message volumes jumped nearly 20,000%, fueling bullish bets on resistance near $10.
