Why Is U-BX Technology Stock Falling After Hours Today?

U-BX Technology (NASDAQ: UBXG), a China-based AI-driven insurance technology company, announced a 1-for-25 reverse stock split effective Friday. The stock fell 15.6% in after-hours trading to $0.11 following the announcement. The reverse split will combine every 25 shares into one share, reducing outstanding Class A shares from 37.79 million to 1.51 million. The stock has plunged over 96% in the past 12 months and is trading near its 52-week low.