Oriental Rise Holdings Ltd. (NASDAQ:ORIS) jumped 18.84% to $0.49 after the bell on Monday after the China-based company disclosed a board-approved reverse stock split.
What You Should Know
According to a Monday Securities and Exchange Commission filing, shareholders approved the measure on May 15, authorizing the board to consolidate shares at a ratio between 1-for-2 and 1-for-100. The board subsequently set the ratio at 1-for-4, with fractional shares rounded up. The effective market date has not yet been announced.
A reverse split reduces outstanding share count while proportionally lifting the per-share price. It does not change market capitalization.
Short interest of the stock currently stands at 5.58%.
Trading Metrics, Technical Analysis
Oriental, a vertically integrated tea production and supply company, has a market capitalization of $2.06 million. The stock has traded between a 52-week high of $19.90 and a 52-week low of $0.28.
The small-cap stock has a Relative Strength Index (RSI) of 40.13.
Over the past 12 months, ORIS has dropped 97.62%.
Currently, the stock is trading close to its annual low.
Price Action: ORIS closed the regular session down 23.63% at $0.41, according to Benzinga Pro data.
Benzinga’s Edge Stock Rankings indicate that ORIS has a negative price trend across all time frames.
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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