Why Siyata Mobile (SYTA) Stock Is Getting Hammered

Siyata Mobile Inc SYTA shares are trading lower by 27.9% to $0.28 during Wednesday’s session after the company announced it will implement a 1-for-18 reverse stock split of its common shares on August 2, to meet Nasdaq’s $1.00 minimum bid price requirement.

The stock will start trading on a post-split basis under the same symbol “SYTA”. The reverse split will combine every 18 shares into one new share, affecting stock options, warrants and other convertible securities similarly.

Fractional shares will be rounded up to the next whole number, and the par value and authorized shares will remain unchanged.

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Should I Sell My SYTA Stock?

Whether to sell or hold a stock largely depends on an investor's strategy and risk tolerance. Swing traders may sell an outperforming stock to lock in a capital gain, while long-term investors might ride out the turbulence in anticipation of further share price growth.

Similarly, traders willing to minimize losses may sell a stock that falls a certain percentage, while long-term investors may see this as an opportunity to buy more shares at a discounted price.

Investors may also consider market dynamics. The Relative Strength Index can be used to indicate whether a stock is overbought or oversold. Siyata Mobile stock currently has an RSI of 18.65, indicating oversold conditions.

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SYTA has a 52-week high of $43.18 and a 52-week low of $0.25.