Cyclerion shares fall 311.61% intraday as merger dilution concerns, legal probes, and profit-taking drive volatility.

Cyclerion dropped 311.61% intraday, driven by concerns over its all-stock merger with Korsana, which diluted existing shareholders to just 1.5% of the combined company—raising fairness concerns. On April 1, Ademi LLP and Halper Sadeh LLC launched investigations into whether the board breached its fiduciary duties by not securing the best price for public shareholders, increasing litigation risks. Additionally, the stock had surged over 400% intraday as short-term traders took profits, followed by a 3.13% post-market decline, reflecting technical correction.