Here's Why Surgalign Holdings Shares Are Falling Today

Surgalign Holdings Inc SRGA shares are trading lower by 19.73% at $0.15 after the company announced a 1-for-30 reverse stock split.

The 1-for-30 reverse stock split will take effect at the opening of trading on the Nasdaq Global Select Market on Tuesday.

The 1-for-30 reverse stock split will automatically convert 30 current shares of the company's common stock into one share of common stock.

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Surgalign Holdings is a medical technology company advancing the science of spine care.

According to data from Benzinga Pro, Surgalign Holdings has a 52-week high of $1.98 and a 52-week low of $0.14.