Bird stock dips 11% on news of reverse stock split

Shared micromobility company Bird’s share price fell 10.8%, or about two cents, in after-hours trading after the company said it would issue a reverse stock split. The move is Bird’s attempt to get back into compliance with the New York Stock Exchange after it received a delisting notice for trading too low.
The news comes a week after Bird reported poor first-quarter earnings, in which the company recorded a decrease in both revenue and ridership numbers. Bird was able to bring costs down, but it wasn’t enough to convince investors that the scooter company could achieve prof

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