Why Evoke Pharma (EVOK) Stock Is Volatile
Portfolio Pulse from Henry Khederian
Evoke Pharma (NASDAQ:EVOK) announced a 1-for-12 reverse stock split effective August 1, 2024, causing volatility in its stock price. The stock fell 16.40% to 42 cents but rose 12.44% to 47 cents in after-hours trading. The reverse split consolidates every 12 shares into one, with no change in par value or authorized shares. The stock has decreased by 75.13% over the past year and is currently oversold with an RSI of 28.29.
July 30, 2024 | 9:22 pm
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Evoke Pharma announced a 1-for-12 reverse stock split effective August 1, 2024, leading to significant volatility. The stock dropped 16.40% to 42 cents but rose 12.44% to 47 cents in after-hours trading. The stock is currently oversold with an RSI of 28.29.
The reverse stock split announcement has caused immediate volatility in EVOK's stock price, with a significant drop followed by a rise in after-hours trading. The stock is currently oversold, which may attract some investors looking for a potential rebound. However, the overall negative performance over the past year and month suggests caution.
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