Lunai Bioworks shares fall 20.23% premarket after announcing a 10-for-1 reverse stock split.

Lunai Bioworks Inc. dropped 20.23% in premarket 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 a sign of financial distress or an attempt to meet listing requirements.