TRxADE HEALTH, Inc. MEDS are rocketing higher Thursday on abnormally-high volume after a 1-for-15 reverse stock split took effect at market open today.
The Details:
On Wednesday, TRxADE Health announced a 1-for-15 reverse stock split, which took effect at market open today. As a result of the reverse split, the company's 10,210,878 outstanding shares of common stock were reduced to only 680,726 shares.
The reduced number of outstanding shares combined with significantly high trading volume has increased the stock's price volatility. Thursday's session volume has already breached the 3 million mark versus the 100-day average of just over 31,000 shares traded.
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MEDS Price Action: According to Benzinga Pro, TRxADE Health shares are trading over 51% higher at $8.33 at the time of publication.
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