Why Is InspireMD (NSPR) Setting Up For a Quick Bounce This Month?

Investors who might have tracked the InspireMD Inc (NYSE: NSPR) stock for some time might have noticed that the stock has been under considerable selling pressure in recent months.

Why Is InspireMD (NSPR) Setting Up For a Quick Bounce This Month?

The stock has been under pressure since as far back as February and has lost as big as 70% since hitting its highest level in 52 weeks. This past week, InspireMD made another announcement that could have an effect on the company’s stock. The company, which is best known for having developed the CGuard™ Embolic Prevention System, announced a reverse stock split last Wednesday.

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The company announced a 1 for 15 reverse stock split of its stock and it is going to go into effect on April 26, 2021. Investors need to note that the InspireMD common stock is going to start trading on a split-adjusted basis from April 27, 2021. The shareholders in the company authorized the move on April 14. NSPR stock is soaring in the pre-market session and now up by 33%.

Anthony Gonzales

Biotech, Tech, and Crypto reporter Anthony Gonzales brings 3 years of experience in helping grassroots, mid-sized organizations and large institutions strengthen their management and resource generating capacities and effectively plan for the future. He is also a mentor and professional advisor to artists working in all disciplines. He is the gold medalist from St. Marco University of Science and Technology in the Bachelors of Financial Management as well.