Why Vicarious Surgical (RBOT) Stock Is Falling
Portfolio Pulse from Henry Khederian
Vicarious Surgical Inc (NASDAQ:RBOT) shares fell by 20% to $0.29 after announcing a 1-for-30 reverse stock split to meet NYSE's minimum price requirement. The split will take effect on June 12, with trading on a split-adjusted basis starting June 13.
June 11, 2024 | 7:40 pm
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Vicarious Surgical Inc (NASDAQ:RBOT) shares fell by 20% to $0.29 after announcing a 1-for-30 reverse stock split to meet NYSE's minimum price requirement. The split will take effect on June 12, with trading on a split-adjusted basis starting June 13.
The announcement of a reverse stock split often signals financial distress or an attempt to meet listing requirements, which can negatively impact investor sentiment. The 20% drop in share price reflects this negative sentiment.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100