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Toughbuilt Industries, Inc. Faces Stock Struggles: A Look Into Recent Market Movements Toughbuilt Industries, Inc. Faces Stock Struggles: A Look Into Recent Market Movements

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ToughBuilt Industries, Inc. TBLT endured a challenging day on Tuesday, with shares trading lower. The company began trading on a split-adjusted basis following a reverse stock split announcement.

Key Details: Last Tuesday, ToughBuilt Industries revealed its plan to implement a reverse stock split of its common stock at a ratio of 1 post-split share for every 65 pre-split shares. The reverse stock split came into effect after the market close on Jan. 1.

The company’s stockholders had previously granted its Board of Directors the discretion to effect a reverse stock split of ToughBuilt’s common stock at the annual stockholders’ meeting on Dec. 11.

Shares of ToughBuilt commenced trading on a split-adjusted basis when the market opened on Tuesday.

It is important to note that trading of the stock was halted last Friday, with shares resuming trading at 9 a.m. on Tuesday.

Related Link: What’s Going On With Fisker Stock?

TBLT Price Action: ToughBuilt’s shares were down 15.1% at $8.69 at the close of the market, according to Benzinga Pro.

Image by 955169 from Pixabay

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