The InspireMD Inc (NYSEAMERICAN:NSPR) stock is on a downward spiral this morning and has already tanked by 10%.
The company, which is best known for being the manufacturer of the CGuard Embolic Prevention System, had recently announced that it was going to go for a 1 to 15 reverse common stock split.
The reverse stock split went into effect yesterday and it seems that the investors are not particularly happy about the move. This morning, the InspireMD stock has commenced trading on a split adjusted basis on the New York Stock Exchange.
The reverse stock split had been authorized by the shareholders back on April 14 this year in a special meeting. The authorization from the shareholders gave the InspireMD board the permission to alter the Amended and Restated Certificate of Incorporation in relation to the company. After the decline in the stock this morning, it now remains to be seen if the stock can make a recovery this week.
NSPR stock is down 10% at $8.30, well off the session low of $5.91.
Editor and Computer Expert
A hardcore tech enthusiast and computer expert Uson Abdilazhanov who holds a degree in communications started writing in his personal blogs since 2012. That time he was interested in the technical part of the computer. But now the software aspect plays an important role in his career. Currently, he runs a PC building and repairing shop which helps a lot of designers and gamers who always like to try new things.