Sonoma Pharmaceuticals shares are trading lower after the company announced a 1-for-20 reverse stock split.
Portfolio Pulse from Benzinga Newsdesk
Sonoma Pharmaceuticals shares are trading lower following the announcement of a 1-for-20 reverse stock split.
August 28, 2024 | 11:54 am
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Sonoma Pharmaceuticals announced a 1-for-20 reverse stock split, leading to a decrease in share price.
Reverse stock splits often lead to a decrease in share price as they can be perceived negatively by investors, indicating potential financial instability or an attempt to meet listing requirements. The immediate market reaction was a drop in SNOA's share price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100