Shares fell 1.54% on first day of trading before rebounding on Thursday

Noodles & Company merged eight of its shares into one share in a reverse stock split that shareholders approved earlier this month to take place at 12:01 Eastern Time on Wednesday. It closed on Tuesday at 50 cents per share and opened at $3.96, dipping as low as $3.57, and then trading as high as $4.37 before closing at $3.90. It then rebounded on Thursday, closing at $4.52.

The reverse split was made as the fast-casual chain’s shares were at risk of delisting from the Nasdaq stock exchange due to its low price.

Nasdaq requires the shares it lists to be priced at a minimum of $1, and Noodles had been out of compliance of that regulation for more than six months.

The stock continues to trade under its existing symbol, NLDS.

The company’s shareholders voted on the split at a special meeting held on Feb. 4, with more than 96% of votes cast approving of a reverse stock split within the range of 1-for-2 to 1-for-15. The board of directors then approved the 1-for-8 ratio.

Noodles & Company’s transfer agent, Equiniti, served as the agent for the split.

Late last year, Noodles & Company received a delisting determination letter from Nasdaq informing the fast-casual chain that its shares would cease trading if it didn’t seek a hearing with the regulatory body.

Noodles has been working on a turnaround for the chain for more than a year, with some success: It reported a 4% increase in same-store sales in its most recent quarter, ended Sept. 30, 2025, but it booked a net loss of $9.2 million, or 20 cents per share.

In September, it hired financial services firm Piper Sandler as an advisor to explore options for maximizing shareholder value.

In December, activist investor Galloway Capital Partners urged Noodles & Company to sell approximately 200 of its 349 company-owned restaurants.

Contact Bret Thorn at bret.thorn@informa.com

Source https://www.nrn.com/fast-casual/noodles-company-executes-8-for-1-reverse-stock-split