DarkIris (DKI) Stock Gains 16% After Hours: What's Behind the Move?

DarkIris Inc. (NASDAQ:DKI) shares jumped 16.08% to $1.94 in after-hours trading on Wednesday. In the regular session, the stock of the Hong Kong-based technology and entertainment enterprise closed at $1.67, up 22.79%, according to Benzinga Pro data. The after-hours move followed a Tuesday Securities and Exchange Commission filing in which the company said shareholders approved all six items at an extraordinary general meeting in Xiamen. Reverse Splits Could Address Sub-$1 Price Shareholders also gave a nod to two share consolidations within one year. Each is triggered when Class A shares close below $1.00. The first would combine every 50 shares into one, raising par value from $0.0016 to $0.08. The second would repeat the 50-to-1 ratio, lifting par value to $4. According to the SEC filing, authorized capital would stay at $500 million. Read Also: Why is AbbVie (ABBV) Stock Trending After Hours? The filing also stated the fifth and sixth amended and restated articles would take effect immediately after the first and second consolidations, respectively. Trading Metrics, Technical Analysis DarkIris has a market capitalization of $3.50 million, a 52-week high of $19.36 and a 52-week low of $1.10. The Relative Strength Index (RSI) of DKI stands at 34.60. The stock has fallen 87.81% over the past 12 months. DKI is currently trading near its annual low. .benzinga-widget#bz-embed-widget-block_38c7ea0aee0d07cf7bcdaf1b2826e19d iframe.w-full { width: 100%; } @media (max-width: 600px) { .benzinga-widget#bz-embed-widget-block_38c7ea0aee0d07cf7bcdaf1b2826e19d iframe.w-full { height: 520px; } } Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors. Photo Courtesy: BEST-BACKGROUNDS on Shutterstock.com