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Why Did GlucoTrack Plunge 10.38%? Nasdaq Listing Fears
Generated by AI AgentAinvest Pre-Market Radar
Friday, Jun 13, 2025 6:45 am ET1min read
On June 13, 2025, GlucoTrack's stock experienced a significant drop of 10.38% in pre-market trading, marking a notable decline in its share price.
GlucoTrack, Inc. has announced a 1-for-60 reverse stock split, which will take effect from the opening of trading on June 16, 2025. This move is aimed at bringing the company into compliance with the $1.00 minimum bid price requirement for maintaining its listing on Nasdaq. The reverse stock split is intended to help
meet Nasdaq's regulations and potentially attract more investors by elevating its share prices.The company's decision to implement this reverse stock split is a strategic effort to ensure it remains listed on the Nasdaq exchange. By reducing the number of outstanding shares, GlucoTrack aims to increase the per-share price, which is crucial for meeting the exchange's minimum bid price requirement. This action reflects the company's proactive approach to maintaining its market position and compliance with regulatory standards.
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