Psychemedics shares are trading higher after the company announced that it approved a plan to cease the registration of its stock under the federal securities laws following the completion of a proposed reverse stock split and to delist its shares of common stock from trading on the Nasdaq.
Portfolio Pulse from Benzinga Newsdesk
Psychemedics shares are trading higher after the company announced a plan to cease the registration of its stock under federal securities laws following a proposed reverse stock split and to delist its shares from the Nasdaq.
August 12, 2024 | 8:26 pm
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Psychemedics shares are trading higher after the company announced a plan to cease the registration of its stock under federal securities laws following a proposed reverse stock split and to delist its shares from the Nasdaq.
The announcement of ceasing stock registration and delisting from Nasdaq is a significant corporate action that has led to a positive short-term reaction in Psychemedics' stock price. Investors may perceive this move as a strategic decision to reduce regulatory burdens and costs.
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IMPORTANCE 80
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