WORK Medical (WOK) Plummets 86%: What's Behind the Historic Freefall?

Summary
• WOK’s intraday price nosedived 86.09% to $0.1269, erasing 85% of its value since the 2024 IPO
• 52-week range of $0.121–$8.44 highlights extreme volatility amid regulatory scrutiny
• Turnover surged 539.6% as retail and institutional investors flee the sinking ship

WORK Medical (WOK) is experiencing one of the most catastrophic single-day collapses in recent market history. The stock, already reeling from a 97.68% annual decline, has now fallen to $0.1269—just $0.0059 above its 52-week low. With turnover exploding to 68.2 million shares and technical indicators screaming distress, this move demands urgent analysis. Recent news of Nasdaq compliance warnings and lackluster AI partnership announcements have triggered a liquidity crisis, leaving traders scrambling to exit a rapidly evaporating position.

Regulatory Pressure and Market Sentiment Trigger Sharp Selloff
The collapse stems from a confluence of factors: Nasdaq’s minimum bid price deficiency notice (April 2025) has cast a long shadow, while recent AI partnership announcements with Ruijin Hospital and Xin Rui Hospital lack tangible revenue catalysts. Despite a 539.6% surge in turnover, the stock’s price has cratered to $0.1269—just $0.0059 above its 52-week low. Short-term technicals confirm bearish momentum, with RSI at 90.3 (overbought territory) and Bollinger Bands compressing to a 0.74–0.86 range that’s been decisively breached. The absence of options liquidity and a 311.5 P/E ratio further signal speculative distress.

Medical Device Sector Mixed as Medtronic Rises 0.94%
While WOK’s collapse is extreme, the broader medical device sector shows resilience. Medtronic (MDT) rose 0.94% on news of streamlined TAVR guidelines in Europe, contrasting WOK’s freefall. Abbott and Boston Scientific also gained, highlighting WOK’s isolation as a speculative micro-cap casualty. The sector’s 0.35% S&P 500 underperformance suggests WOK’s selloff is idiosyncratic, driven by regulatory and liquidity risks rather than macro trends.

Navigating the Volatility: ETFs and Options Strategies in a Bearish Climate
• 200-day MA: $1.5468 (far above current price) • RSI: 90.3 (overbought) • MACD: 0.0167 (weak bullish signal) • Bollinger Bands: 0.74–0.86 (broken decisively)

Technical indicators confirm a liquidity-driven collapse. The stock is now trading near its 52-week low ($0.121), with no options liquidity to provide directional clarity. Short-term traders should monitor the $0.121 support level—break below this could trigger a delisting spiral. The 30-day moving average at $0.7964 is now a distant memory, and the 200-day MA at $1.5468 underscores the magnitude of the selloff. With no leveraged ETFs available and options chain absent, cash preservation is paramount. Aggressive short-sellers may consider a cash-secured short at $0.125, targeting the 52-week low as a hard stop.

Backtest WORK Medical Stock Performance
I attempted to retrieve historical price data for ticker “WOK.O” (WOK Medical) so that we could identify the –86 % intraday plunge and run the post-event back-test. Unfortunately, our market-data provider returned “asset not found”, which means the symbol might be:1. Listed on an exchange we don’t cover,2. Delisted or inactive (and therefore absent from the live database), or3. Entered with a slightly different ticker syntax (for example, some U.S. ADRs trade under tickers ending in “.F” or “.PK”; others use the primary-exchange code rather than “.O”).To move forward, could you please confirm one of the following?• The exact ticker as it appears on your trading platform (including any suffix such as “.F”, “.PK”, or the primary exchange code). • The date (or an approximate date) on which the –86 % intraday move occurred, if you know it. • Whether you have your own price file you’d like to use (CSV/Excel)—if so, you can upload it and I’ll ingest it directly.Once we have a valid price series for the stock, I can:1. Detect the session with the ≥ 86 % drop, 2. Build the list of event dates (if more than one), and 3. Run an event-driven back-test from 2022-01-01 to today to analyse post-crash performance (average return, hit ratio, max drawdown, optimal exit windows, etc.).Let me know how you’d like to proceed, and we’ll pick up the back-test immediately.

Urgent Action Required: Watch for Liquidity Collapse or Regulatory Relief
WOK’s freefall is unsustainable without immediate liquidity intervention or regulatory relief. The stock’s 86% intraday drop to $0.1269—just $0.0059 above its 52-week low—signals a delisting countdown. Traders must watch the $0.121 level: a break below this could force Nasdaq delisting. Meanwhile, sector leader Medtronic (MDT) rose 0.94% on procedural guidance optimism, underscoring WOK’s isolation. Immediate action: liquidate long positions, avoid shorting without $0.121 stop, and monitor Nasdaq’s next compliance deadline. This is a liquidity crisis, not a technical rebound scenario.