Why Calidi Biotherapeutics (CLDI) Shares Are Trading Lower
Calidi Biotherapeutics Inc (NASDAQ:CLDI) shares are trading lower by 14.3% to $0.17 during Monday’s session after the company announced a 1-for-10 reverse stock split, effective at 12:01 a.m. Eastern Time on July 15. The company’s common stock will begin trading on a split-adjusted basis on the NYSE American market under the symbol “CLDI”.
The reverse stock split was approved by the company’s stockholders at a Special Meeting on June 6, and finalized by the Board on July 1. As a result, the number of issued and outstanding shares of common stock will be reduced to one-tenth of the pre-split amount, with fractional shares rounded up to the nearest whole share. The reverse stock split will not change the number of authorized shares or the par value per share.
Should I Sell My CLDI Stock?
When deciding to hold on to or sell a stock, investors should consider their time horizon, unrealized gains and total return.
Shares of Calidi Biotherapeutics have fallen 18.15% over the past month, meaning an investor who bought shares on Jun. 1 would see a capital loss of $0.05.
Investors may also consider market dynamics. The Relative Strength Index can be used to indicate whether a stock is overbought or oversold. Calidi Biotherapeutics stock currently has an RSI of 56.14, indicating neutral conditions.
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CLDI has a 52-week high of $5.00 and a 52-week low of $0.14.