Cidara Therapeutics shares are trading lower. The company announced a 1-for-20 reverse stock split.
Portfolio Pulse from Benzinga Newsdesk
Cidara Therapeutics announced a 1-for-20 reverse stock split, leading to its shares trading lower.
April 22, 2024 | 2:37 pm
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Cidara Therapeutics 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 attempts to meet stock exchange listing requirements or to artificially inflate stock prices without improving underlying fundamentals. This perception can result in a decrease in share price in the short term.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100