Why cyn stock go down today?

Cyngn Inc. (CYN) has experienced a decline in its stock price today due to a combination of factors:

1. Reverse Stock Split: The announcement of a 1-for-100 reverse stock split is likely contributing to the decline. Reverse stock splits are often seen as a last resort to comply with listing requirements, which can raise concerns among investors about the company's financial health and stability.
2. Financial Performance: The company reported a net loss of $5.97 million and a revenue of $5.513 for the quarter ending March 31, 2024, which may be a concern for investors. Additionally, the company's cash and short-term investments have decreased from $8.2 million at the end of December 2023 to $4.8 million at the end of March 2024.
3. Short Interest: The short percent of float for Cyngn has fallen significantly, indicating that fewer shares are being shorted. This does not necessarily mean that the stock will rise, but it can be a signal that investors are less bearish on the stock.

In conclusion, Cyngn Inc.'s stock price decline today is likely a result of a combination of the reverse stock split announcement, financial performance concerns, and short interest changes.