CNSP - CNS Pharmaceuticals Stock Was Volatile Wednesday: What You Need To Know | Benzinga
CNS Pharmaceuticals, Inc. (NASDAQ:CNSP) experienced significant movement in its share price Wednesday afternoon. Here's a look at what happened.
What Happened: CNS Pharmaceuticals stock soared on abnormally high volume in early trading Wednesday. The move appeared to be retail driven, given that the stock was trending on various social platforms throughout the shortened trading session.
Wednesday’s trading volume of about 55.7 million shares easily exceeded the stock’s average volume of about 408,000, according to Benzinga Pro.
CNS Pharmaceuticals announced a strategic move to bolster its financial position through an offering of 1.425 million shares of common stock to health-focused institutional investors. The company will also offer warrants to purchase up to 1.425 million shares in a concurrent private placement. The shares were priced at $1.39 each, while the warrants ...