Why Tharimmune Stock (THAR) Is Trading Lower
Portfolio Pulse from Henry Khederian
Tharimmune Inc (NASDAQ:THAR) shares dropped by 9.7% to $0.19 after announcing a 1-for-25 reverse stock split to meet Nasdaq's minimum bid price requirement. The split, approved by stockholders in October, will reduce the number of shares to approximately 700,474. The company is unsure if this will ensure compliance with Nasdaq's listing requirements. THAR's 52-week range is $0.14 to $0.38.
November 20, 2023 | 4:54 pm
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Tharimmune Inc's stock price fell after announcing a reverse stock split, aiming to comply with Nasdaq's minimum bid price requirement. The effectiveness of this measure in ensuring continued listing is uncertain.
Reverse stock splits often lead to a negative perception among investors as they can be seen as a measure to avoid delisting. Although it is intended to meet Nasdaq's requirements, the company's uncertainty about compliance and the immediate negative reaction in stock price suggest a short-term negative impact.
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IMPORTANCE 75
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