iBio shares are trading lower after the company announced a 20-to-1 reverse stock split.
Portfolio Pulse from Benzinga Newsdesk
iBio Inc. announced a 20-to-1 reverse stock split, causing its shares to trade lower.
November 28, 2023 | 5:33 pm
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NEGATIVE IMPACT
iBio Inc.'s stock is trading lower due to the announcement of a 20-to-1 reverse stock split.
Reverse stock splits often lead to negative investor sentiment as they can be perceived as a measure to prop up the stock price in the face of potential delisting. This can result in a short-term decrease in stock price.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100