Cara shares jump 32% following reverse stock split
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Dec 31 2024
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Stock Performance: Cara Therapeutics' stock surged 32% following a 1-for-12 reverse stock split aimed at meeting Nasdaq's minimum bid requirements, with shares trading between $4.15 and $5.67 on the first day post-split.
Corporate Changes: The reverse stock split reduced Cara's authorized common shares from 200 million to approximately 16.67 million, as part of their strategy to regain compliance with Nasdaq regulations.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
