Trevena shares are trading lower after the company reported a year-over-year decrease in its Q2 revenue results and announced a 1-for-25 reverse stock split.
Portfolio Pulse from Benzinga Newsdesk
Trevena shares are trading lower following a year-over-year decrease in Q2 revenue results and the announcement of a 1-for-25 reverse stock split.
August 09, 2024 | 1:18 pm
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Trevena shares are trading lower due to a year-over-year decrease in Q2 revenue and the announcement of a 1-for-25 reverse stock split.
The decrease in Q2 revenue indicates weaker financial performance, which is typically negative for stock prices. Additionally, reverse stock splits are often perceived negatively by investors as they can signal financial distress.
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