Cheetah Net Supply Chain Service Inc. (NASDAQ:CTNT) shares are trading lower Friday morning. Nasdaq futures are up 0.12% while S&P 500 futures have gained 0.37%.
The company recently implemented a 1-for-200 reverse stock split. This action became effective for trading on a split-adjusted basis on Wednesday.
According to a U.S. Securities and Exchange Commission filing, the split reduced the number of outstanding Class A shares from over 391 million to approximately 1.95 million. Management noted that fractional shares were rounded up to the nearest whole share.
Recent Volatility and Halts
The downward move follows a volatile Thursday session. Shares of the California-based company halted on a circuit breaker to the upside on Wednesday. The stock eventually finished that session up 7.12%. However, the momentum shifted early Friday as retail traders weighed the new capital structure.
Investors are now looking toward May 12. Cheetah Net will report its first-quarter earnings on that date. Analysts currently estimate a loss of $10 per share. Quarterly revenue is projected to reach $200,000.
Technical Analysis
CTNT is pinned near the bottom of its 52-week low at $2.41. The stock is trading 97.5% below its 20-day simple moving average (SMA) and 98.7% below its 100-day SMA, a gap that points to persistent downside control rather than a normal pullback.
The relative strength index (RSI), a momentum gauge, is 21.17.
Over the last 12 months, the stock is down 98.91%. The death cross in December (the 50-day SMA falling below the 200-day SMA) fits that longer-run bearish structure and helps explain why rebounds can fade quickly.
- Key Resistance: $122
- Key Support: $2.50
CTNT Stock Price Activity: Cheetah Net Supply Chain shares were down 5.23% at $3.08 during premarket trading on Friday, according to Benzinga Pro data.
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