Revelation Biosciences (NASDAQ:REVB) stock is rising higher on Monday after the clinical-stage biopharmaceutical company’s shares underwent a reverse stock split last week.
That reverse stock split went into effect on Thursday and resulted in 30 of the company’s shares being consolidated into a single share. The company kept its REVB stock ticker while getting 76135L507 as its new CUSIP number.
Revelation Biosciences enacted this reverse stock split to increase the price of its shares. It did this to maintain its listing on the Nasdaq Exchange. Prior to that, the company was in danger of being delisted due to shares trading below the minimum bid price for the exchange.
REVB Stock Movement Today
Now, shares of REVB stock are seeing extreme volatility during pre-market trading on Monday. That comes alongside heavy trading of the company’s shares.
As of this writing, more than 923,000 shares of the stock have changed hands. That’s well above its daily average trading volume of only about 7,500 shares.
Investors will keep in mind that REVB is still a penny stock. That means certain traders can manipulate it more easily than other shares. This could help explain some of the wild movement the shares are seeing today.
REVB stock is up 61.1% as of Monday morning.
Investors looking for more of the latest stock market stories are in luck!
We have all of the hottest stock market news traders need to know about on Monday! Among that is what’s sending OneMedNet (NASDAQ:ONMD) stock higher, the biggest pre-market stock movers this morning and more. All of that info is ready to go at the links below!
More Stock Market News for Monday
- Why Is OneMedNet (ONMD) Stock Up 169% Today?
- Today’s Biggest Pre-Market Stock Movers: 10 Top Gainers and Losers on Monday
- BlackRock Cut Its Stake in FuelCell Energy (FCEL) Stock
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Read More: Penny Stocks — How to Profit Without Getting Scammed
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
