Fly-E Group Shares Plummet Amid Reverse Stock Split and Legal Challenges

Fly-E Group’s stock experienced a devastating trading session on Friday, collapsing by more than half its value. The equity closed at $0.505 after a staggering single-day decline of 52.85%, having opened the session at $1.07. This dramatic sell-off occurred just days before a scheduled 1-for-20 reverse stock split set to take effect this coming Tuesday.

Market activity reached fever pitch as trading volume exploded to approximately 4 million shares, representing a total value of around $2.01 million. The Friday plunge extends a disastrous trend for the company’s shareholders, with the stock having now declined 88.0% since the beginning of the year from its previous level of $4.20.

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