Alzamend Neuro Inc (ALZN)

Shares of Alzamend Neuro Inc (ALZN) dropped by 24.62% from $0.1722 to $0.1298 in the trading on Monday, October 30, 2023. The reason why ALZN stock down is due to the announcement of a reverse stock split. Alzamend Neuro initiated a one-for-fifteen reverse stock split, effective on October 31. This move was aimed at meeting Nasdaq's Minimum Bid Price Requirement of $1.00 per share. The reverse stock split impacted all existing shares and shares available under equity incentive plans, without changing the common stock's par value or stockholders' percentage interests. However, those with fractional shares resulting from the split would receive cash payments instead.