Why INVO BioScience Stock Dropped Today, Trading Also Halted Several Times

INVO BioScience Inc INVO shares traded lower on Tuesday. The company announced it will acquire NAYA Biosciences in an all-stock transaction.

What To Know: NAYA Biosciences' shareholders will receive 7.3333 shares of INVO for each share of NAYA Biosciences at closing, for a total of approximately 18,150,000 shares of INVO.

The combined company is expected to operate under the name "NAYA Biosciences" upon the completion of the merger.

Tuesday's move was marked by abnormally high trading volume. According to data from Benzinga Pro, the stock experienced above-average trading volume of 4.86 million shares compared to its average volume of 1.83 million. Also, trading of the stock was halted and resumed several times during the day.

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INVO Price Action: Shares of INVO were down 6.08% at $1.41 in the after-hours session at the time of publication Tuesday, according to Benzinga Pro. Shares were down 30.19% at $1.48 at market close Tuesday. Photo: Michal Jarmoluk from Pixabay