STRATA Skin Sciences Inc (NASDAQ:SSKN) shares have rocketed by 50% in late morning trading after the company executed a 1-for-5 reverse stock split that took place at the opening of trading on April 7. Due to the reverse stock split, STATA is now in compliance with the $1 minimum bid price requirement for the continued listing on the NASDAQ capital market.
De-listed/OTC stocks typically command lower valuations than listed NASDAQ/NYSE stocks due to less visibility. Because STRATA Skin Sciences Inc (NASDAQ:SSKN)’s stock price is now comfortably higher than the $1 per share level, sentiment around the name has improved due to less fear that it might be de-listed in the near future. Due to the improved sentiment, STRATA Skin Sciences shares have rallied.
What Does The Smart Money Sentiment Say?
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None of the 742 top funds that we track owned shares of STRATA Skin Sciences Inc (NASDAQ:SSKN) at the end of the fourth quarter. Some of the funds that sold out during the time period, however, include Broadfin Capital, Citadel Investment Group, and Sabby Capital.
The Bottom Line
STRATA Skin Sciences Inc (NASDAQ:SSKN) shares have surged due to a reverse stock split. For more reading, check out ‘Foods That Improve Your Skin Texture‘.