Why Is Wellchange Holdings Stock Surging On Thursday?

Wellchange Holdings (WCT) shares surged 19.15% on Thursday following an SEC filing announcing major corporate restructuring proposals. The company plans a 1-for-400 reverse stock split to maintain Nasdaq compliance, increase Class B voting rights from 35 to 100 votes per share, reduce par value, and expand authorized share capital. Shareholder meetings are scheduled for July 6 in Hong Kong to vote on these measures.