Orgenesis Inc. (Nasdaq:ORGS) Stock Gains Further Momentum: Will It Continue?
Last week, Orgenesis Inc. (Nasdaq:ORGS) had been in focus after the company announced on September 23 that the board of directors had approved a reverse stock split. That led to significant traction for the stock, and last Friday it clocked gains of 30%. It is likely that the stock is going to be in sharp focus this week as well.
Orgenesis Announces Reverse Stock Split
The approval had been for a 1 for 10 reverse stock split of the common stock and went into effect on September 24, 2024, at 5 PM Eastern Time. It was also revealed that the Orgenesis common stock was to start trading on the NASDAQ Capital Market on a split-adjusted basis from September 25. The ticker symbol of the stock would continue to be ORCS, it was announced.
Orgenesis had decided to opt for the reverse stock split in order to be compliant with the minimum bid price requirements of $1 a share of the common stock. That had become necessary if the company was to enjoy continued NASDAQ Capital Market listing. The company also announced at the time that the move would affect all shareholders in the same way and the ownership percentage in the company would continue to be the same.
Traders Notes
| +/- EMA(20) | 5.41 (-17.56%) |
| +/- SMA(50) | 6.65 (-32.93%) |
| +/- SMA(200) | 5.71 (-21.89%) |
| 5-Day Perf. | +14.36% |
| 1-Month Perf. | -33.42% |
| 3-Month Perf. | -25.67% |
| 6-Month Perf. | -45.74% |
| YTD Perf. | -10.92% |
| 1-Year Perf. | -28.06% |
| RSI(14) | 39.85 |
| ATR(14) | 0.82 |
| ADX(14) | 16.35 |
| Beta (5Y) | 0.86 |