Ryvyl Inc. Shares Plunge 11.76% as Reverse Split and Liquidity Risks Weigh

Ryvyl Inc. (NASDAQ: RVYL) fell to a record low on Dec. 31, with an intraday decline of 11.76%.

The stock’s collapse reflects ongoing struggles to meet Nasdaq listing requirements. Shareholders approved a 1-for-35 reverse split, effective Jan. 1, 2026, to elevate the per-share price above the $1.00 minimum bid threshold. The move follows a 88.28% annual decline, with the stock trading at $0.16 as of Dec. 29. The reverse split, approved after a Nasdaq Staff Delisting Determination in 2025, aims to avert delisting but has triggered investor skepticism, contributing to a premarket drop of 11% on the announcement.

Financial pressures persist as Ryvyl navigates a $5.65 million market capitalization and a current ratio of 0.82, signaling liquidity risks. The company expanded authorized shares to 500 million and revised a convertible preferred stock agreement with RTB Digital, Inc., raising $6.5 million. However, these measures may not restore confidence, as the reverse split underscores structural vulnerabilities. The post-split stock’s viability hinges on sustaining a price above $1.00, a challenge compounded by weak operational momentum and limited market visibility in its underserved payment solutions niche.