Processa Pharmaceuticals shares are trading lower after the company announced it will effect a 1-for-20 reverse stock split.
Portfolio Pulse from Benzinga Newsdesk
Processa Pharmaceuticals (PCSA) announced a 1-for-20 reverse stock split, causing its shares to trade lower.
January 18, 2024 | 3:31 pm
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Processa Pharmaceuticals' stock is trading lower due to the announcement of a 1-for-20 reverse stock split.
Reverse stock splits often lead to negative investor sentiment as they can be perceived as a measure to prop up the share price in the face of negative business performance or to maintain compliance with stock exchange listing requirements. This can result in a short-term decline in stock price.
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IMPORTANCE 75
RELEVANCE 100