SMX is trading 10.7% up at $7.47 after the company announced a 2.285-for-1 reverse stock split intended to significantly reduce its share count and maintain its Nasdaq listing.
- The reverse split is scheduled to become effective on June 1, 2026, as part of a strategic move to meet exchange requirements.
- Traders are primarily focused on the resulting float reduction and potential squeeze dynamics triggered by the announcement.
- Gains are further supported by a broader risk-on sentiment and modest upward movement across major market indices.