Why Tharimmune (THAR) Shares Are Moving
Portfolio Pulse from Henry Khederian
Tharimmune Inc (NASDAQ:THAR) shares dropped 16.4% to $0.33 after announcing a 1-for-15 reverse stock split effective May 24. The split aims to meet Nasdaq's $1.00 minimum bid price requirement. The stock has decreased by 96.44% in the past year.
May 22, 2024 | 4:26 pm
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Tharimmune Inc shares fell 16.4% to $0.33 after announcing a 1-for-15 reverse stock split effective May 24. The split aims to meet Nasdaq's $1.00 minimum bid price requirement, though compliance is not guaranteed.
The reverse stock split is a significant corporate action aimed at meeting Nasdaq's listing requirements. However, the immediate market reaction has been negative, with shares dropping 16.4%. This suggests investor concern about the company's future prospects and the effectiveness of the split in achieving compliance.
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