ABTC Shares Hit Record Low as 1-for-15 Reverse Split Nears
ABTC is trading near its 52-week low of $0.612 (6.5% above the low) on elevated volume (2.8× avg).
Summary
American Bitcoin Corp. (ABTC) shares plunged to a record low of 62 cents, down nearly 8.4%, following the finalization of its 1-for-15 reverse stock split. The split, effective July 6th, will reduce outstanding shares from over 1 billion to approximately 73 million. This move, approved by shareholders on June 22nd and with an effective date announced yesterday, is crucial for ABTC to regain compliance with Nasdaq's minimum bid price requirement and avoid delisting. Reverse splits are typically seen as a sign of financial distress, and the stock's new all-time low reflects significant market concern over the company's outlook, especially after reporting an $81.8 million net loss in Q1 2026. Trading on a split-adjusted basis will begin on July 8th.
At the time of this announcement, ABTC was trading at $0.65 on NASDAQ in the Crypto Assets sector, with a market capitalization of approximately $663.4M. The 52-week trading range was $0.61 to $14.52. This news item was assessed with negative market sentiment and an importance score of 8 out of 10. Source: Binance News.