Why Alzamend Neuro (ALZN) Stock Is Nosediving Today
Portfolio Pulse from Henry Khederian
Alzamend Neuro Inc's shares have dropped by 31.2% after the company announced a one-for-fifteen reverse stock split. The move is aimed at regaining compliance with Nasdaq's Minimum Bid Price Requirement of $1.00 per share. The split will affect all existing shares and shares available for issuance under equity incentive plans, but will not change the par value of the common stock.
October 30, 2023 | 2:16 pm
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Alzamend Neuro's stock price has dropped significantly following the announcement of a reverse stock split. This move is aimed at meeting Nasdaq's minimum bid price requirement.
The announcement of a reverse stock split often leads to a decrease in the stock price as it may be perceived as a sign of trouble within the company. In this case, Alzamend Neuro is trying to regain compliance with Nasdaq's minimum bid price requirement, which has led to a significant drop in its stock price.
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RELEVANCE 100