Why SINTX Technologies Stock Is Falling
Portfolio Pulse from Henry Khederian
SINTX Technologies Inc (NASDAQ:SINT) shares fell by 14% to $0.06 after announcing a 1-for-200 reverse stock split to meet Nasdaq's minimum bid price requirements. This action will reduce the outstanding shares from approximately 123 million to 0.6 million.
May 24, 2024 | 2:34 pm
News sentiment analysis
Sort by:
Ascending
NEGATIVE IMPACT
SINTX Technologies Inc (NASDAQ:SINT) shares fell by 14% to $0.06 after the company announced a 1-for-200 reverse stock split to meet Nasdaq's minimum bid price requirements. This action will reduce the outstanding shares from approximately 123 million to 0.6 million.
The reverse stock split is a significant corporate action aimed at meeting Nasdaq's minimum bid price requirements. This has led to a 14% drop in the stock price, indicating a negative short-term impact as investors react to the news.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100