TRxADE HEALTH, Inc. MEDS are rocketing higher Thursday on abnormally-high volume after a 1-for-15 reverse stock split took effect at market open today.
The Details:
On Wednesday, TRxADE Health announced a 1-for-15 reverse stock split, which took effect at market open today. As a result of the reverse split, the company's 10,210,878 outstanding shares of common stock were reduced to only 680,726 shares.
The reduced number of outstanding shares combined with significantly high trading volume has increased the stock's price volatility. Thursday's session volume has already breached the 3 million mark versus the 100-day average of just over 31,000 shares traded.
Related News: What's Going On ShiftPixy (PIXY) Stock?
MEDS Price Action: According to Benzinga Pro, TRxADE Health shares are trading over 51% higher at $8.33 at the time of publication.
Image: dapple-designers from Pixabay
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
