Thursday, July 02, 2026
Michael Kupinski, Director of Research, Equity Research Analyst, Digital, Media & Technology , Noble Capital Markets, Inc.
George Proost, Research Associate, Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
Reverse Split. On July 1, 2026, the company announced a one-for-five reverse stock split of both its Class A and Class B common stock, effective at 11:59 pm Eastern Time on July 2, 2026, with the shares trading on a split-adjusted basis at market open on July 6, 2026. Notably, we view the reverse split as a favorable development in the company’s efforts to satisfy NASDAQ’s minimum $1 listing price requirement. Although a reverse split does not alter the company’s underlying fundamentals, it removes a technical overhang that has weighed on investor sentiment and could improve trading liquidity and marketability.
Reverse Split Details. Fractional shares will be redeemed for cash based on the average closing price during the ten trading days preceding the effective date. Outstanding stock options, warrants, and convertible securities will be adjusted proportionately, while the company’s authorized share count will remain unchanged. The shares will continue trading under the SNAL ticker with a new CUSIP (83301J308).
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This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).
*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision.
