Infobird Co Ltd (IFBD)

Infobird (IFBD) stock fell by 25.74% due to the announcement of an upcoming extraordinary general shareholder meeting. The Board proposes a 1-for-8 reverse stock split, consolidating every eight shares into one to increase the stock price without altering investors' holdings. Infobird seeks to comply with Nasdaq listing standards, particularly maintaining its share price above the $1 minimum. With shares trading at 63 cents, the company faces delisting risk, prompting the move to consolidate shares and boost the stock price.

Infobird Co Ltd Stock (IFBD) dropped by 5.46% from $67.95 to $64.24 in the trading on Wednesday March 08, 2023. The reason why IFBD stock down today is due to reporting of prelim revenue for FY22. Infobird has announced its preliminary revenue guidance for the year ended December 31, 2022 and provided an update on its strategic priorities. Full year 2022 preliminary revenue is expected to be approximately U.S. $16 million. Previously, Infobird entered into an equity transfer agreement to acquire a 51% equity interest in Shanghai Qishuo Network Technology Co., a provider of consumer product and retail store digitalization solutions in the retail footwear industry and leading clothing brands.

Infobird Co Ltd Stock (IFBD) dropped by 41.2% from $145.87 to $85.70 in the trading on Friday February 24, 2023. The reason why IFBD stock down today is due to the announcement of a direct offering. Infobird has announced the pricing of its registered direct offering of nearly 3.85 millon units, with each unit consisting of one ordinary share and 0.65 warrant to purchase one ordinary share. Each unit was sold at a price of $1.30. The gross proceeds are expected to be $5 millions and the Offering is expected to close on February 28, 2023.