Why INVO BioScience Stock Dropped Today, Trading Also Halted Several Times
Portfolio Pulse from Ryan Gustafson
INVO BioScience Inc announced it will acquire NAYA Biosciences in an all-stock transaction. NAYA Biosciences' shareholders will receive 7.3333 shares of INVO for each share of NAYA Biosciences, for a total of approximately 18,150,000 shares of INVO. The combined company will operate under the name 'NAYA Biosciences'. INVO shares traded lower on Tuesday, with the stock experiencing above-average trading volume and several trading halts.
October 24, 2023 | 8:44 pm
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NEGATIVE IMPACT
INVO BioScience's stock traded lower following the announcement of its acquisition of NAYA Biosciences. The stock experienced high trading volume and several trading halts.
The announcement of the acquisition led to increased trading activity for INVO's stock. The all-stock nature of the deal and the change in company name to 'NAYA Biosciences' may have caused uncertainty among investors, leading to the stock trading lower.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100