American Rebel Holdings (AREB) Surges Over 45% After Hours: Here's Why

American Rebel Holdings Inc. (NASDAQ:AREB) jumped 45.41% on Wednesday, trading at $0.63 in the after-hours session, following the announcement of a 1-for-20 reverse stock split set to take effect on Feb. 2.

Split Takes Effect February 2

The Nashville-based patriotic lifestyle brand company said the reverse stock split will take effect at 12:00 a.m. Eastern Time on Feb. 2.

The stock will continue trading under the symbol “AREB” with a new CUSIP number, 02919L802.

According to the company's press release, American Rebel has not received a deficiency notice and does not expect to receive one concerning Nasdaq's bid price rule.

The company stated that ...