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Wednesday, May 25, 2022

1-for-10 reverse stock split: Senmiao Technology Ltd. (AIHS) Stock Made a Downward Stride in Early Trades.

Senmio Technology Ltd. (AIHS) serves its client base via facilitating automobile acquisitions along with operating its financing, operating lease, and guarantee services. Its shares declined considerably by 18.1% to be $0.20 as of the writing in the early trades of April 5. The 52-week price range of its shares is $0.15-$1.59 with a market cap of $12.3 million.


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AIHS: Recent Developments

On April 5, AIHS reported its anticipation to implement a 1-for-10 reverse stock split on the company’s common stock with effect from April 6, with the trading commencement on a split-adjusted basis. The CUSIP number for its common stock is 817225204. The process took place with the approval of the Company’s BoDs.

After the reverse stock split, 10 shares of the company’s issued and outstanding common stock will be transformed to one share of issued and outstanding common stock and as a result, no fractional shares will be issued.

AIHS: Industry Outlook

The consumer finance stocks had observed a rally on Monday as the tensions escalated in the Russian-Ukrainian regions. But the tech stocks posted strong gains, resultantly the stock market showed an adverse trend. Also, the virus reemergence in China is a rising concern for the global stock markets. The experts believe that the companies should focus more on their capacity building in this sector.

AIHS: Company Outlook

Its average 3-months trading volume was 525.10 thousand and the current outstanding shares are 59.23 million. The operating metrics of the company for February include the total accomplished orders of 0.7 million with a gradual decline from January 2022 i.e., 0.9 million orders. Total revenues for Q3 2022 were $3.5 million

Conclusion

AIHS shares dipped by 85% in the last year and again showed a downward motion in Tuesday’s early trading. Its stock dropped as a result of the company’s implementation of the 1-for-10 reverse stock split.

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