Why CNS Pharmaceuticals Shares Are Getting Hammered
Portfolio Pulse from Henry Khederian
CNS Pharmaceuticals, Inc (NASDAQ:CNSP) shares dropped by 33.4% to $0.14 after announcing a 1-for-50 reverse stock split to meet Nasdaq's minimum share price requirement. The reverse split will consolidate every 50 shares into one share, effective June 4. The stock has decreased by 93.88% over the past year and has a neutral RSI of 55.04.
June 03, 2024 | 2:55 pm
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CNS Pharmaceuticals announced a 1-for-50 reverse stock split, causing shares to drop by 33.4%. The move aims to increase the share price to meet Nasdaq's minimum requirement. The stock has fallen significantly over the past year, and the RSI indicates neutral conditions.
The reverse stock split is a significant corporate action aimed at increasing the share price to meet Nasdaq's listing requirements. However, the immediate market reaction has been negative, with shares dropping by 33.4%. Given the stock's poor performance over the past year and the neutral RSI, the short-term outlook is likely to be negative.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100