Axcella Health shares are trading lower following the commencement of a previously announced 1-for-25 reverse stock split.
Portfolio Pulse from Benzinga Newsdesk
Axcella Health has commenced a previously announced 1-for-25 reverse stock split, leading to a decrease in its share price.
September 19, 2023 | 7:24 pm
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Axcella Health's stock price is trading lower due to the commencement of a 1-for-25 reverse stock split.
A reverse stock split reduces the number of shares in circulation, which can lead to an initial decrease in the stock price as each share now represents a larger portion of the company. This is likely the reason for the decrease in Axcella Health's stock price.
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IMPORTANCE 80
RELEVANCE 100