Focus Universal Inc. (NASDAQ: FCUV ) shares are trending on Wednesday.
FCUV shares surged 13.14% to $4.65 in after-hours trading on Tuesday.
According to Benzinga Pro data, the stock of the AI technology company experienced an intraday gain of 89.23% to $4.11.
Volume for the day surged to 77.22 million shares, approximately 281.5 times the stock’s average daily volume of 274,320 shares, indicating exceptionally strong trading activity.
Reverse Split In Focus
The spike comes as the stock of the California-based company is trading on a split-adjusted basis following a 4-for-1 reverse stock split that took effect at market open on Tuesday.
The split was announced via a Securities and Exchange Commission filing on June 18. According to the SEC filing, Focus Universal executed the reverse split to satisfy Nasdaq’s $1.00 minimum bid price requirement.
Deterministic AI Launch Adds Fuel
Dr. Desheng Wang, CEO of Focus Universal, said “Deterministic AI is designed to complete complex business workflows with consistent and verifiable outcomes.”
Trading Metrics, Technical Analysis
Focus has a market capitalization of $11.62 million, a 52-week high of $210 and a 52-week low of $1.84.
The Relative Strength Index (RSI) of FCUV stands at 54.40.
The technology stock has dropped 97.41% over the past 12 months.
Currently, FCUV is trading very close to its 52-week low.
Benzinga’s Edge Stock Rankings indicate that FCUV is experiencing short-term upward movement along with medium and long-term consolidation.
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Posted In: Markets Tech After-Hours Center News Stock Split SEC Equities