Why Is NeuBase Therapeutics (NBSE) Stock Down 58% Today?


  • NeuBase Therapeutics (NBSE) stock is down on Tuesday after announcing a special shareholder meeting.
  • The meeting will have investors voting on a liquidation and dissolution plan.
  • This has NBSE stock seeing heavy trading today as investors sell their shares.
NBSE Stock - Why Is NeuBase Therapeutics (NBSE) Stock Down 58% Today?

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NeuBase Therapeutics (NASDAQ:NBSE) stock is falling on Tuesday after the company announced details for an upcoming special shareholder meeting.

The big news here is that NeuBase Therapeutics is seeking shareholder approval for the liquidation and dissolution of the company. That meeting is set for May 13, 2024, at 8:30 a.m. Eastern Time.

According to a filing with the Securities and Exchange Commission (SEC), the company is going forward with this plan after considering strategic alternatives. It notes this decision was made due to its available cash, resources and operations.

What This Means for NBSE Stock

With this news, it’s likely that NBSE stock won’t be around for much longer. The company’s current plans mean operations will cease, and that will end its public listing as well.

It makes sense that shares of NBSE stock are down 57.9% on Tuesday morning alongside that news. This erases the 42.9% gains the stock has seen since the start of the year.

Today’s news also has more than 222,000 shares of NBSE stock changing hands as investors sell their stakes. That’s already above its daily average trading volume of about 206,000 shares.

Investors looking for more of the most recent stock market stories are in luck!

We have all of the hottest stock market news ready to go on Tuesday! A few examples include what’s happening with Elbit Systems (NASDAQ:ESLT), Check-Cap (NASDAQ:CHEK) and Stoke Therapeutics (NASDAQ:STOK) stock today. All of that is ready to go at the links below!

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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.

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