Wellgistics Health (WGRX) shares fell 24.3% in after-hours trading following the announcement of a 1-for-50 reverse stock split to regain compliance with Nasdaq's minimum bid price rule. The split, effective May 26, will reduce shares from about 125.7 million to 2.5 million, aiming to boost the stock price. The company also plans to expand its AI-powered pharmacy platform through a new initiative called DelivMeds AI, integrating blockchain and biometric technology. Despite these moves, WGRX shares have dropped over 94% in the past year, reflecting ongoing challenges for the company.
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