- The reverse stock split of its Class A common stock will become effective on March 27.
- TruGolf’s total outstanding shares will be reduced from about 5.35 million to roughly 535,000.
- The company recently repurchased 423,402 shares of its Class A common stock under a $2 million buyback plan.
Shares of TruGolf Holdings, Inc. (TRUG) crashed more than 36% to a record low on Wednesday, after the company announced a second reverse share split of its shares in less than a year, underpinning a prolonged challenge to comply with Nasdaq’s listing requirements.
The company said it will implement a 1-for-10 reverse stock split of its Class A common stock, effective March 27, 2026. Following the reverse split, every 10 shares will be combined into one share, reducing the total outstanding shares from about 5.35 million to roughly 535,000. The stock will continue trading on the Nasdaq Capital Market under the existing ticker.
This marks TruGolf’s second reverse stock split in a short period, following a 1-for-50 consolidation of its Class A common stock on June 23, 2025.
Companies typically turn to reverse stock splits to lift their share price above the $1 minimum required by major exchanges, helping them regain compliance after a deficiency notice and avoid delisting.
TruGolf’s $2 Million Share Buyback
Last May, the company launched a $2 million share buyback program, which remains ongoing. Most recently, TruGolf repurchased 423,402 shares of its Class A common stock under the plan.
According to its latest financial report for the quarter ended Sept. 30, 2025, TruGolf’s revenue slumped 34% and missed Street estimates, according to Fiscal.ai data. Net loss widened significantly to $7.2 million from $0.6 million.
The company develops indoor golf technology solutions. The company has created various products, including video games and an e-sports platform called E6 CONNECT.
How Did Stocktwits Users React?
On Stocktwits, retail sentiment for TRUG has been ‘bearish’ for a while. It was ‘neutral’ more than three months ago.
One user expects the stock to fall to $0.2, nearly half of its current trading price.
Another investor noted that the buyback has had a limited impact.
Year-to-date, the stock has declined by around 48%.
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