Galmed Pharmaceuticals shares are trading lower after the company announced a 1-for-12 reverse stock split.
Portfolio Pulse from Benzinga Newsdesk
Galmed Pharmaceuticals' shares are declining following the announcement of a 1-for-12 reverse stock split.
August 28, 2024 | 6:51 pm
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Galmed Pharmaceuticals' shares are trading lower due to the announcement of a 1-for-12 reverse stock split, which often indicates financial restructuring and can lead to short-term stock price volatility.
Reverse stock splits are typically implemented by companies to increase the per-share price and maintain listing requirements. This can be perceived negatively by investors as it may indicate underlying financial issues, leading to a decrease in stock price.
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