11:14 AM EDT, 06/26/2024 (MT Newswires) -- Reliance Global (RELI) said Wednesday its board has authorized a 1-for-17 reverse stock split of its shares to regain compliance with the $1 minimum bid price rule for continued listing on Nasdaq.

The shares will start trading on Nasdaq on a reverse split-adjusted basis at the start of trading on July 1, the company said.

The company's shares were falling past 30% in recent trading.

Price: 0.28, Change: -0.12, Percent Change: -30.32