American Bitcoin drops 8.4% before reverse split

Trump-backed American Bitcoin shares sank to an all-time low of 62 cents on Wednesday, falling nearly 8.4 percent ahead of a scheduled event. The company will execute a one-for-15 reverse stock split after market close Thursday to maintain compliance with Nasdaq minimum bid requirements and avoid delisting. This action reduces outstanding Class A and B common shares from over one billion down to approximately seventy-three million starting Monday trading.