DDC founder Norma Chu (pictured) is looking for ways to keep her company listed on the NYSE. / Photo: instagram.com/cookingnorma
The board of directors of DayDayCook (DDC), a Hong Kong-based but U.S.-listed provider of ready-to-eat meals for Gen Z, has approved a 1-for-25 reverse stock split. The company hopes this will allow its shares to resume trading on the New York Stock Exchange, where they were halted following a steep drop in the share price amid the tariff-induced global market selloff.
Details
The DDC has approved a 1-for-25 reverse stock split, company founder Norma Chu told shareholders in a letter. The goal, she explained, is to elevate the share price.
On Friday, April 4, amid the broad market selloff, DayDayCook plunged more than 40%, dropping below $0.10 per share. As a result, the NYSE halted trading of the stock.
Chu expects the trading halt to be lifted after the reverse split, with DDC shares resuming trading on April 21.
What else was in the letter
Chu also sought to reassure investors about uncertainty related to potential trade wars.
“Recent headlines about tariffs and geopolitical tensions have created noise in the market. Let me address this directly: DDC is well-insulated from these risks,” she wrote in the letter.
According to her, 80% of the company’s revenue in 2024 came from the Chinese domestic market, where all its production facilities are located. DDC’s export business also focuses on Southeast Asia rather than the U.S.
In early April, DDC announced a JV in China with local premium prepared-meal producer Hewen Agricultural Technology. The partner committed to generating at least $15 million in profit for the JV over five years, with annual dividends distributed to shareholders. For context, DDC posted a net loss of $22.8 million in 2023 (its 2024 financials have yet to be released).
Chu believes the JV will accelerate growth in the Chinese market and create value for shareholders. She also reiterated her intention, first announced in February, to buy 10 million additional shares (pre-reverse split). The company estimates this will cost her about $2.27 million.
Chu mentioned another measure aimed at saving the business: diversifying its corporate reserves. According to a press release issued in March, a group of investors will exchange up to 100 bitcoins for DDC shares at a range of $0.50 to $1.25 per share. At the time, this implied a premium of 100% to 400% to the market price.
“Market fluctuations often obscure fundamentals. Today, DDC is stronger operationally, financially, and strategically than at any point in our history. Our China-centric model, fortified by strong local demand and regional exports, offers stability and growth in uncertain times,” Chu concluded.
About DDC
The trading halt is just the latest in a series of setbacks that have plagued DayDayCook throughout its public history.
In November 2023, DDC went public on the NYSE. The IPO was met with little investor enthusiasm and was priced at $8.50 per share, below the indicated range in the prospectus. Since then, the stock has lost nearly 99% of its value.
In spring 2024, DDC received two notices of noncompliance with listing standards from the NYSE: one for a shareholders' equity deficit and another for failing to submit its 2023 report on time. In January 2025, DDC finally released the 2023 report, revealing a 16.5% year-over-year increase in revenue to $28.9 million. In September 2024, the NYSE also notified the company that its share price had fallen below the minimum share price of $1 per share.