Why T2 Biosystems (TTOO) Stock Is Getting Obliterated
Portfolio Pulse from Henry Khederian
T2 Biosystems Inc (TTOO) shares have dropped by 42.7% after the company announced a reverse stock split at a ratio of 1 post-split share for every 100 pre-split shares. The move is aimed at meeting the minimum bid price requirement for maintaining its Nasdaq Capital Market listing.
October 12, 2023 | 3:01 pm
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T2 Biosystems' stock price has significantly dropped following the announcement of a reverse stock split. This move is intended to meet the minimum bid price requirement for its Nasdaq listing.
The announcement of a reverse stock split has led to a significant drop in T2 Biosystems' stock price. This is a direct result of the company's decision to meet the minimum bid price requirement for its Nasdaq listing, which has been perceived negatively by the market.
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