Biora Therapeutics shares are trading lower. The company announced its board approved a 1-for-10 reverse stock split, effective October 18.
Portfolio Pulse from Benzinga Newsdesk
Biora Therapeutics shares are trading lower following the announcement of a 1-for-10 reverse stock split, effective October 18.
October 11, 2024 | 1:21 pm
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Biora Therapeutics announced a 1-for-10 reverse stock split, leading to a decline in share price.
Reverse stock splits often lead to a decrease in share price as they can be perceived as a sign of financial instability or an attempt to meet listing requirements. The announcement of a 1-for-10 reverse stock split by Biora Therapeutics has resulted in a negative market reaction, causing the share price to drop.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100