Crown ElectroKinetics (NASDAQ:CRKN) stock is falling on Wednesday after the optical switching films company announced details for its upcoming annual shareholder meeting.
The annual shareholder meeting of CRKN stock investors is set for June 14, 2024. The meeting will start at 10:00 a.m. Eastern Time, and several matters will be voted on during it.
Let’s break those down real quick:
- The election of five members to its board of directors.
- Ratifying Marcum LLP as its independent registered public accounting firm.
- Approving a CRKN reverse stock split with a ratio as high as 1-for-150 shares.
- Approving its 2024 Employee Incentive Plan.
- To approve the company to issue shares to an accredited investor.
- The ability to cover other relevant matters at the meeting or adjourn it if need be.
It’s likely that investors aren’t excited about the company’s plan for a reverse stock split. The idea of issuing shares to an accredited investor may also be weighing on CRKN stock today.
CRKN Stock Movement on Wednesday
CRKN stock is seeing strong trading today alongside its annual shareholder meeting announcement. This has more than 43.2 million shares of its stock changing hands as of this writing. To put that in perspective, the company’s daily average trading volume is about 88 million shares.
CRKN stock is down 36.8% as of Wednesday morning. The stock was also down 16.2% year-to-date when markets closed yesterday.
There are more stock market stories traders will want to read about today!
Fortunately, we have all of them collected in one place! A few examples of Wednesday’s hottest stock market stories include why shares of Mustang Bio (NASDAQ:MBIO) and Akoustis Technologies (NASDAQ:AKTS) stock are up as well as the biggest pre-market stock movers this morning. All of that info is ready at the following links!
More Wednesday Stock Market News
- Why Is Mustang Bio (MBIO) Stock Up 58% Today?
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- Today’s Biggest Pre-Market Stock Movers: 10 Top Gainers and Losers on Wednesday
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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.
