TRACON Pharmaceuticals shares are trading lower after the company announced a 1-for-20 reverse stock split.
Portfolio Pulse from Benzinga Newsdesk
TRACON Pharmaceuticals announced a 1-for-20 reverse stock split, leading to its shares trading lower.
April 08, 2024 | 3:18 pm
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TRACON Pharmaceuticals announced a 1-for-20 reverse stock split, causing its shares to trade lower.
Reverse stock splits often lead to negative investor perception as they can be seen as an attempt to meet stock exchange listing requirements or to artificially inflate stock prices. This announcement has led to a decrease in TCON's share price in the short term.
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