- Post split, the company’s outstanding shares will be reduced to roughly 12.6 million from around 151.7 million.
- The stock will begin trading on a post-split basis on March 3, 2026, under the ‘MRDN’ ticker.
- The company had previously guided FY2025 revenue between $186 million and $187 million.
Shares of Golden Matrix Group (GMGI) tumbled more than 10% on Thursday, after the company’s board approved a 1-for-12 reverse stock split and a corporate name change to Meridian Holdings Inc.
The move is aimed at boosting the company’s share price to meet Nasdaq’s minimum bid requirement of $1, with the reverse share split and name change expected to take effect on March 3, 2026.
The stock will begin trading on a post-split basis on the same day on the Nasdaq Capital Market under the new ticker symbol “MRDN.”
Outstanding Shares To Be Reduced To 12.6 Million
Following the split, each 12 existing shares will convert into one new share, reducing the company’s outstanding shares to roughly 12.6 million from around 151.7 million and authorized shares to 25 million from 300 million.
The company received a notice from Nasdaq on Dec. 31, 2025, for failing to meet the $1 minimum bid price rule after its shares traded below that level for 30 consecutive business days. The company was given until June 30, 2026, to regain compliance by maintaining a $1 closing price for 10 consecutive sessions.
Golden Matrix Group, which is expected to report its full-year 2025 results on March 2, previously guided for annual revenue of $186 million to $187 million, representing 23% to 24% growth over 2024. It also expects fourth-quarter revenue of $52.7 million to $53.7 million, marking a 15% to 17% increase year over year.
How Did Stocktwits Users React?
Retail sentiment for GMGI on Stocktwits flipped to ‘bullish’ from ‘bearish’ a day earlier.
One user said that the reverse share split addresses a lot of issues that have been making this a “shorters dream.”
GMGI shares have declined more than 37% so far in 2026.
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