The volatility was immediate and intense, with the stock swinging between $1.42 and $4.41 throughout the session as multiple automatic pauses triggered to curb the sell-off. This collapse deepens a grim trend for the company, which has now shed roughly 85% of its market value since the start of the year.

The exchange had halted trading on June 23 after determining that the firm’s share price had fallen below the minimum requirements for continued listing. By implementing the reverse split on Monday, the company aimed to satisfy these regulatory standards and restore compliance. Despite the corporate restructuring, market confidence remains fragile as the firm attempts to pivot its focus toward new ventures, including a recent investment in ARMR Sciences, a developer of countermeasures against synthetic drugs like fentanyl.