Why Paranovus Entertainment's Stock is Making Waves

Paranovus Entertainment Technology Ltd, a company that uses AI for entertainment, saw its stock go up a bit in early trading on Wednesday. It reached $0. 023, which is a small increase. But this is not the whole story. The stock had a big drop the day before, falling by more than a third. The company is doing something called a reverse stock split. This means they are reducing the number of shares from 350 million to just 3. 5 million. This change will happen on Thursday. The idea is to make the stock price go up, so they can meet the rules of the Nasdaq stock market. The stock market wants companies to have a minimum price of $1 to keep trading.The company's board approved this plan on December 1. A company called VStock Transfer LLC will help with the split. If someone ends up with a fraction of a share, they will get rounded up to a whole share. This is not the first time Paranovus has had trouble. The stock has lost almost all its value this year. It's trading at a very low price compared to its highest point in the past year. The stock has been going down for a while, and experts say it's not looking good.