JAGX - Why Jaguar Health Stock Is Tanking | Benzinga
Jaguar Health, Inc. (NASDAQ:JAGX) shares are falling Monday after the company announced a 1-for-60 reverse stock split.
The Details:
The company will effect a reverse stock split at an exchange ratio of 1-for-60, on Thursday, in order to support the company’s compliance with Nasdaq’s listing standards.
“Jaguar’s board of directors has determined that effecting a reverse stock split at this time will, in addition to supporting the Company’s compliance with Nasdaq’s listing standards, provide Jaguar with the opportunity to achieve a share price and outstanding share count that is more attractive to institutional investors,” said Lisa Conte, Jaguar’s CEO.
Last week, Jaguar reported worse-than-expected first-quarter results with losses of 6 cents per share, compared to ...