Skift Take
A reverse stock split would give Sonder some breathing room, and who knows, it may even tempt institutional investors to take a look.
After receiving a notice from Nasdaq in April that its shares could be delisted because their price had dipped below $1 per share for 30 trading days in a row, Sonder announced it is asking shareholders to approve a reverse stock split.
That wouldn't in itself impact Sonder's valuation, but would get its share price way higher than a buck