Why Motus GI Holdings Shares Are Getting Hammered Today

Motus GI Holdings Inc MOTS shares are trading lower by 17.10% to $0.22 during Monday's trading session after the company announced a 1-for-20 reverse stock split.

What Happened?

Motus GI Holdings says the reverse stock split is intended to increase the per share trading price of Motus GI's common stock to satisfy the $1.00 minimum bid price requirement for continued listing on The Nasdaq Capital Market (Rule 5550(a)(2)).

The company's common stock will begin trading on a split-adjusted basis at the opening of the market on Tuesday, July 26.

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Motus GI Holdings is a medical technology company.

According to data from Benzinga Pro, Motus GI Holdings has a 52-week high of $1.01 and a 52-week low of $0.22.