CRKN - Dear CRKN Stock Fans Mark Your Calendars for Dec. 22
InvestorPlace - Stock Market News, Stock Advice & Trading Tips
Crown Electrokinetics (NASDAQ:CRKN) stock is on the move Wednesday as investors prepare for the company’s upcoming shareholder meeting.
That meeting will take place on Dec. 22 and has holders of CRKN stock voting on a few different matters. Among them is a proposal for a one-for-15 reverse stock split, as well as increasing outstanding shares from 200 million to 800 million.
Investors won’t be taking the matter of a reverse stock split lightly. However, they also have little choice but to vote in favor of it. That’s due to the company’s shares being in danger of delisting from the Nasdaq Exchange.
Why Is CRKN Stock Facing a Delisting?
Holders of CRKN stock likely already know that the company’s share price is too low. When markets closed on Tuesday, the stock was priced at 13 cents. That’s well below the $1 minimum required to maintain a Nasdaq listing.
To avoid that delisting, Crown Electrokinetics wants to consolidate shares of CRKN stock to boost the price. Doing so would combine 15 shares into a single share, which would be enough to put it above the $1 requirement.
Investors will also note that CRKN stock is seeing heavy trading today. As of this writing, more than 76 million shares are on the move. That’s well above its daily average trading volume of about 3.2 million shares.
CTKN stock is up 122.7% as of Wednesday morning.
Investors can read all of the hottest stock market news below!
We’ve got all of the biggest stock stories traders need to know about on Wednesday! Among that is what has shares of Kymera Therapeutics (NASDAQ:KYMR), Best Buy (NYSE:BBY), and Meta Materials (NASDAQ:MMAT) stock moving today. You can find out more on these matters below!
More Wednesday Stock Market News
- Why Is Kymera Therapeutics (KYMR) Stock Up 20% Today?
- Why Is Best Buy (BBY) Stock Down Today?
- SEC Names Meta Materials in Pump-and-Dump Scheme Lawsuit
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
More From InvestorPlace
- Buy This $5 Stock BEFORE This Apple Project Goes Live
- The Best $1 Investment You Can Make Today
- Early Bitcoin Millionaire Reveals His Next Big Crypto Trade “On Air”
- It doesn’t matter if you have $500 or $5 million. Do this now.
The post Dear CRKN Stock Fans, Mark Your Calendars for Dec. 22 appeared first on InvestorPlace.