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Cyngn Inc (NASDAQ:CYN) shares are trading lower by 29% to $0.05 during Tuesday’s session after the company announced a 1-for-100 reverse stock split.
This split will be effective at 5 p.m. ET on July 3, and trading on a post-split basis will begin on July 5. The primary goal is to increase the share price to meet Nasdaq’s minimum bid price requirement.
Post-split, every 100 shares will convert to 1 share, with no fractional shares issued—fractional shares will be rounded up. Equity awards and warrants will also be proportionately adjusted.
Whether to sell or hold a stock largely depends on an investor's strategy and risk tolerance. Swing traders may sell an outperforming stock to lock in a capital gain, while long-term investors might ride out the turbulence in anticipation of further share price growth.
Similarly, traders willing to minimize losses may sell a stock that falls a certain percentage, while long-term investors may see this as an opportunity to buy more shares at a discounted price.
Investors may also consider market dynamics. The Relative Strength Index can be used to indicate whether a stock is overbought or oversold. Cyngn stock currently has an RSI of 41.71, indicating neutral conditions.
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CYN has a 52-week high of $1.21 and a 52-week low of $0.05.
Posted In: CYN
