Why Crown Electrokinetics (CRKN) Stock Is Falling
Portfolio Pulse from Henry Khederian
Crown Electrokinetics (CRKN) shares are trading lower by 9.6% after the company effected a 1-for-60 reverse stock split. The split was approved by the company's Board of Directors and stockholders on August 11. The reverse stock split impacts all stockholders without changing their proportional ownership in the company's common stock.
August 16, 2023 | 1:44 pm
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Crown Electrokinetics' stock is trading lower following a 1-for-60 reverse stock split. The split doesn't change proportional ownership in the company's common stock.
Reverse stock splits often lead to a decrease in the stock price as they may be interpreted by the market as a sign of trouble within the company. In this case, CRKN's stock price has fallen by 9.6% following the announcement of the split.
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