Zinger Key Points
- Yoshiharu Global this week effected a 1-for-10 reverse stock split for its Class A and Class B common stock.
- The company also announced on Monday it has acquired restaurant assets in Las Vegas for $3.6 million.
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Yoshiharu Global Co YOSH shares are trading lower by roughly 3.7% to $5.22 during Friday's session, pulling back following recent volatility. The company recently effected a 1-for-10 reverse stock split for its Class A and Class B common stock. Trading began on a post-split basis Tuesday.
Yoshiharu Global also announced this week that the company is acquiring Las Vegas restaurant assets for $3.6 million, aiming to blend Japanese cuisine with these establishments.
They foresee an 80% revenue surge by opening four more restaurants in 2024, targeting 13 locations by year-end.
CEO James Chae sees this as a strategic move to boost revenue, especially during seasonal peaks.
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According to data from Benzinga Pro, YOSH has a 52-week high of $25.90 and a 52-week low of $2.96.
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