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Cidara Therapeutics Inc (NASDAQ:CDTX) shares are trading lower by 24.4% to $0.52 Monday afternoon. The company announced a 1-for-20 reverse stock split.
This decision follows approval from stockholders in a special meeting on April 4. Each 20 shares of existing common stock will now be combined into one share. The company’s common stock will remain listed on the Nasdaq Capital Market.
The reverse split affects all common stockholders proportionally, without altering their ownership percentage, except for fractional shares, which will be compensated with cash payments.
See Also: What's Going On With Rivian Stock?
Besides going to a brokerage platform to purchase a share – or fractional share – of stock, you can also gain access to shares either by buying an exchange traded fund (ETF) that holds the stock itself, or by allocating yourself to a strategy in your 401(k) that would seek to acquire shares in a mutual fund or other instrument.
For example, in Cidara Therapeutics’ case, it is in the Health Care sector. An ETF will likely hold shares in many liquid and large companies that help track that sector, allowing an investor to gain exposure to the trends within that segment.
According to data from Benzinga Pro, CDTX has a 52-week high of $1.48 and a 52-week low of $0.50.
Posted In: CDTX
