Why Did Antelope Enterprise Plunge 23.53% After Reverse Split?

On April 7, 2025, Antelope Enterprise experienced a significant drop of 23.53% in pre-market trading, marking a notable decline in its stock price.

Antelope Enterprise recently announced a one-for-40 reverse stock split, which took effect after the market closed on April 1, 2025. This move was aimed at regaining compliance with the minimum bid price requirement, a common strategy for companies to boost their stock price and avoid delisting from major exchanges.

The company also revealed changes to its board of directors, which could potentially impact its strategic direction and operational decisions. These changes are part of ongoing efforts to strengthen the company's governance and leadership structure.