The Long Island City, New York-based technology company designed the SmartDesk, a standing workstation with multi-touch display screens, wireless connectivity and charging capacity.
The split, which occurred at 9 am ET Thursday, allowed the company to reamin in compliance with the Nasdaq's minimum average closing price requirement.
Initially, the company announced a 6:1 split, but shifted to 8:1 yesterday in order to meet the average requirement, meaning investors received one share for every eight they owned.
The split took the shares to $2.40 from $0.28, and since then the price has climbed another jumped 28% to $2.87.
–Updated to include info about Cemtrex's SmartDesk–
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