Nakamoto Inc. began trading at $4.70 on May 22, 2026, after implementing a 1-for-40 reverse stock split. This move reduced the company's outstanding shares from approximately 696.1 million to 17.4 million, while the ticker symbol NAKA remained unchanged on Nasdaq. The reverse split aimed to meet Nasdaq's minimum bid price requirement of $1.00 per share, as pre-split shares were trading between $0.17 and $0.22. Despite the consolidation, Nakamoto's stock opened below the expected post-split price range of $6.80 to $8.80, indicating significant selling pressure. The stock has plummeted over 99% from its 2025 highs of $29 to $34. Nakamoto, a Bitcoin infrastructure and treasury company, holds approximately 5,058 Bitcoin, valued at $383 million, translating to over $22 per share in asset value. However, the market remains skeptical about the company's ability to leverage this value, with concerns over potential dilution and compliance with Nasdaq's listing requirements.