CYN - Why Cyngn (CYN) Stock Is Getting Hammered | Benzinga

Cyngn Inc (NASDAQ:CYN) shares are trading lower by 29% to $0.05 during Tuesday’s session after the company announced a 1-for-100 reverse stock split.

This split will be effective at 5 p.m. ET on July 3, and trading on a post-split basis will begin on July 5. The primary goal is to increase the share price to meet Nasdaq’s minimum bid price requirement.

Post-split, every 100 shares will convert to 1 share, with no fractional shares issued—fractional shares ...

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