Crown Electrokinetics shares are trading lower after the company announced a 1-for-60 reverse stock split.
Portfolio Pulse from Benzinga Newsdesk
Crown Electrokinetics announced a 1-for-60 reverse stock split, leading to a decrease in its share price.
August 15, 2023 | 12:53 pm
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Crown Electrokinetics' stock price is expected to decrease in the short term due to the announced 1-for-60 reverse stock split.
Reverse stock splits often lead to a decrease in the company's share price as they can be perceived as a negative signal about the company's financial health. In this case, Crown Electrokinetics' 1-for-60 reverse stock split announcement has already led to a decrease in its share price.
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