Tharimmune Inc (NASDAQ:THAR) shares are trading lower by 16.4% to $0.33 during Wednesday’s session after the company announced a 1-for-15 reverse stock split of its common stock effective after trading closes on May 24.
The post-split trading will begin on May 28. Approved by shareholders on May 14, the split will consolidate every 15 shares into 1 share, with fractional shares rounded up. This adjustment will reduce the outstanding common stock to approximately 785,978 shares and proportionally adjust equity awards.
The reverse split aims to meet Nasdaq’s $1.00 per share minimum bid price requirement for continued listing, though compliance is not guaranteed.
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Should I Sell My THAR Stock?
When deciding to hold on to or sell a stock, investors should consider their time horizon, unrealized gains and total return.
Shares of Tharimmune have decreased by 96.44% in the past year. An investor who bought shares of Tharimmune at the beginning of the year would take a loss of $0.18 per share if they sold it today. The stock has fallen 13.51% over the past month, meaning an investor who bought shares on Apr. 1 would see a capital loss of $0.14.
Tharimmune shares have an all-time high of $102.5, representing 31169.16% upside from current levels.
Investors may also consider market dynamics. The Relative Strength Index can be used to indicate whether a stock is overbought or oversold. Tharimmune stock currently has an RSI of 56.51, indicating neutral conditions.
According to data from Benzinga Pro, THAR has a 52-week high of $9.50 and a 52-week low of $0.30.
