11:43 AM EDT, 09/09/2024 (MT Newswires) -- UTime ( WTO ) said Monday it is implementing a one-for-25 reverse stock split of its common stock starting Wednesday to comply with the Nasdaq's $1-per-share listing requirement.

No fractional shares will be issued; instead, they will be rounded up to the nearest whole share, the company said.

The company's shares were down 21% in recent Monday trading.

Price: 0.05, Change: -0.01, Percent Change: -21.21