Algorhythm Holdings, Inc. (RIME) Analysis

Algorhythm (RIME) Holdings announced the date of effectiveness and the ratio of a forthcoming reverse stock split of the Company’s Common Stock. On January 13, 2025, the Company announced, on a Current Report on Form 8-K, the voting results from the annual meeting of stockholders held that day. At the Meeting, stockholders voted upon and approved Proposal 3, an amendment to the Company’s Certificate of Incorporation to effect a Reverse Split with a ratio of not less than one-for-ten and not more

And the after hours action was solid After close, they announced a 4x revenue run rate growth from 4 new pilots and 4 pilots that converted to full contracts. They have the SemiCab business humming along nicely now. I’m waiting to see what announcements they make about selling off the Karaoke business. That could be a strong alternative to another offering to fuel SemiCab growth. If volume keeps up, I could see some larger players making moves which would be great for long term stability