Why CNS Pharmaceuticals (CNSP) Stock Is Up 86%
Portfolio Pulse from Henry Khederian
CNS Pharmaceuticals (CNSP) stock surged 86% after receiving a Nasdaq notice for failing to meet the $1.00 minimum bid price requirement. The company is ineligible for a 180-day extension due to past reverse stock splits and has requested a hearing on November 5 to delay delisting.
October 23, 2024 | 2:08 pm
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CNS Pharmaceuticals stock rose 86% after a Nasdaq notice for not meeting the $1.00 minimum bid price. The company is ineligible for an extension due to past reverse stock splits and has requested a hearing on November 5 to delay delisting.
The stock price increase is likely due to speculative trading following the Nasdaq notice and the upcoming hearing, which provides a temporary reprieve from delisting. The market may be reacting to the potential for a positive outcome from the hearing.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100