PaxMedica shares are trading lower after the company announced a 1-for-17 reverse stock split.
Portfolio Pulse from Benzinga Newsdesk
PaxMedica has announced a 1-for-17 reverse stock split, leading to a decrease in its share price.
October 30, 2023 | 4:19 pm
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PaxMedica's stock price is expected to decrease in the short term due to the announced 1-for-17 reverse stock split.
A reverse stock split reduces the number of shares in circulation, which can lead to a decrease in the stock's liquidity and potentially its price. As PaxMedica has announced a 1-for-17 reverse stock split, this is likely to have a negative impact on its stock price in the short term.
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