Actionable Stock Market Trading Newswire. Built for Traders, by Traders.
All news is property of their respective owners.

Why Sonnet BioTherapeutics Stock (SONN) Is Getting Obliterated

Sonnet BioTherapeutics Holdings, Inc. (NASDAQ: SONN) shares are trading lower by 24% to $0.21 Thursay afternoon after the company announced a 1-for-22 reverse stock split.
byHenry Khederian
August 31, 2023
1 minute read
Total
0
Shares
0
0
0
0
0
0

Sonnet BioTherapeutics Holdings, Inc. (NASDAQ:SONN) shares are trading lower by 24% to $0.21 Thursay afternoon after the company announced a 1-for-22 reverse stock split.

The company says the reverse stock split is intended to increase the per share trading price of Sonnet’s common stock to satisfy the $1.00 minimum bid price requirement for continued listing on The Nasdaq Capital Market (Rule 5550(a)(2)).

Additionally, the reverse stock split will reduce the number of shares of common stock issued and outstanding from approximately 38.5 million to approximately 1.8 million.

See Also: What In The World Is Going On With AMC Shares?

According to data from Benzinga Pro, SONN has a 52-week high of $4.20 and a 52-week low of $0.19.

 
Total
0
Shares
Share 0
Tweet 0
Share 0
Share 0
Share 0
Share 0
Related Posts
Read More

Election Impact: Analyst Eyes Potential Upside for Strategic Education with Republican Victory

By Shivani Kumaresan
April 17, 1:48 PM
Truist Securities analyst boosts STRA's rating to Buy, citing robust enrollment prospects in U.S. adult education and potential margin gains from a high fixed-cost model. With a price target increase to $125, Sommer anticipates upward estimate revisions and potential multiple expansion, especially if Republicans reclaim the White House.

STRA