A 1-for-50 reverse split of stock has been initiated by Aditxt Inc.
Following Tuesday's bell, the business announced that the reverse split had begun.
The Company's total number of issued and outstanding common shares will be closed to 1,156,674 after the reverse stock split.
Aditxt Inc. is up this morning; the stock increased by 38.9% in pre-market activity.
With a short-term technical score of 96, Aditxt has outperformed 96% of other stocks in the market.
The primary goal of the reverse stock split is to comply with Nasdaq's $1 minimum bid price criterion for continuing listing for the Company.
At the opening of the normal session on Wednesday(today), trading starts on a post-split basis ($26.35 now).
At a special shareholder meeting last Wednesday, the reverse split was approved.
Over 56.8 million shares of Aditxt were outstanding as of Monday.
On November 13, 2022, Aditxt Inc. will report its financial results; it has an EPS of $-1.80.