SRX Global Inc. (SRXH) shares fell 14.05% on Tuesday. Allegations of regulatory scrutiny regarding potential financial misstatements drove the decline.
The sell-off ended a volatile rally that began when shares were under $0.20 in late June. The stock price had recently peaked at over $3.00 in early July.
The company completed a 60-for-1 reverse stock split in early July. This action restored compliance with NYSE listing standards after the price hit $0.09.
SRX Global recently authorized a $20 million stock repurchase plan. Executives discussed a new AI-driven crypto-treasury strategy during a July 14 investor chat.