What's Going On With Quoin Pharmaceuticals (QNRX) Stock Today?
Portfolio Pulse from Erica Kollmann
Quoin Pharmaceuticals, Ltd. (NASDAQ:QNRX) shares are trading higher after the company effected an ADS ratio change equivalent to a 1-for-12 reverse stock split. The stock has been trending on StockTwits and Yahoo! Finance, and trading has been halted multiple times due to heavy volume. More than 1.73 million shares have been traded, far exceeding the QNRX 100-day average of 20.42 thousand shares.
July 21, 2023 | 3:15 pm
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Quoin Pharmaceuticals' stock is trading higher after a 1-for-12 reverse stock split. The stock has attracted significant attention from retail investors, leading to heavy trading volume.
The reverse stock split has effectively reduced the number of shares available, which can often lead to an increase in the stock price. Additionally, the increased attention from retail investors and the heavy trading volume are likely contributing to the stock's upward movement.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100