Lunai Bioworks shares fall 17.92% intraday after announcing a 10-for-1 reverse stock split.

Lunai Bioworks Inc. dropped 17.92% in intraday trading, with the company announcing a 10-for-1 reverse stock split. This move is often seen as a bearish indicator, as it can signal that the company is trying to boost its stock price by reducing the number of shares outstanding, which can be perceived negatively by investors.