XIAO-I is trading 12.5% down in pre-market at $2.03 after continued volatility following its one-for-seven reverse ADS split, effective September 8, 2026.
- The ratio change converted each seven existing ADSs into one new ADS; ordinary shares were unaffected.
- No new company announcement, earnings release, or confirmed September 16 catalyst was identified.
- The broader market is modestly higher, so macro sentiment does not clearly explain the decline.