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Why Evoke Pharma (EVOK) Stock Is Volatile
Evoke Pharma Inc (NASDAQ:EVOK) shares ended Tuesday down 16.40% to 42 cents after the company announced a 1-for-12 reverse stock split of its common stock, set to take effect at 12:01 a.m. ET on August 1, 2024. After-hours trading has it up 12.44% at 47 cents.
The reverse stock split means that every 12 shares of the company’s existing common stock will be consolidated into one share. The stock will trade on a split-adjusted basis on NASDAQ under the same symbol, EVOK, starting Aug. 1.
This reverse split, approved by shareholders at the 2024 annual meeting, will not change ...