What In The World Is Going On With Exela Technologies (XELA) Stock?

Exela Technologies XELA shares are trading lower by 41.83% to $2.91 Monday afternoon. The company during Friday's after-hours session effected a 1-for-200 reverse stock split.

What Else?

As a result of the reverse split, each 200 shares of the company's issued and outstanding common stock will be automatically combined and converted into one issued and outstanding share of common stock.

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Exela says, immediately after the reverse split becomes effective, there will be approximately 6.4 million shares of common stock issued and outstanding.

The amendment to the company's certificate of incorporation allowing for the reverse split was approved by the company's stockholders at a Special Meeting held May 11.

According to data from Benzinga Pro, XELA has a 52-week high of $1,359.60 and a 52-week low of $2.62.