Jaguar Health (NASDAQ:JAGX) stock is falling on Monday as the company prepares for a reverse stock split later this week.
Jaguar Health is going to enact a 1-for-60 reverse stock split on Thursday. That will see it consolidate 60 shares of JAGX stock into a single share. This will have the shares start trading on a split-adjusted basis when markets open that day.
Jaguar Health notes that its shares will continue to trade on the Nasdaq under the JAGX ticker post-split. However, the shares will be using 47010C805 as the new CUSIP number after the split.
What’s Behind the JAGX Reverse Stock Split?
Jaguar Health is undergoing a reverse stock split to boost the price of its shares. The company is doing this to regain compliance with the minimum bid price rule for the exchange.
Jaguar Health also notes that it expects extra benefits from this reverse stock split. It believes it will alter the share price and total outstanding shares in a way that will make the company more attractive to institutional investors.
JAGX stock is down 40.3% as of Monday morning.
There are plenty more stock market stories that traders will want to read about on today. That includes everything happening with shares of Virios Therapeutics (NASDAQ:VIRI), GT Biopharma (NASDAQ:GTBP) and MultiMetaVerse (NASDAQ:MMV) stock today. All of this news is available below!
More Stock Market News for Monday
- Why Is Virios Therapeutics (VIRI) Stock Down 44% Today?
- Why Is GT Biopharma (GTBP) Stock Up 143% Today?
- Why Is MultiMetaVerse (MMV) Stock Up 105% Today?
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On the date of publication, William White did not hold (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.
