Why Aceragen (ACGN) Stock Is Down 30% Today
Portfolio Pulse from Henry Khederian
Aceragen, Inc. (NASDAQ:ACGN) announced its plans to delist from the Nasdaq, leading to a 30% drop in its stock price. The delisting process will be orderly and subject to stockholder approval at a special meeting scheduled for August 14. The company is also seeking stockholder approval for a transfer and assignment of most of its assets to an assignee for the benefit of creditors.
August 07, 2023 | 2:34 pm
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Aceragen's announcement to delist from the Nasdaq and transfer most of its assets to an assignee for the benefit of creditors has led to a 30% drop in its stock price.
The announcement of Aceragen's delisting from the Nasdaq and the transfer of most of its assets to an assignee for the benefit of creditors has negatively impacted investor confidence, leading to a significant drop in its stock price.
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