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Why Tonix Pharmaceuticals Stock Is Crashing Again Today

TheMotleyFool

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Why Tonix Pharmaceuticals Stock Is Crashing Again TodayPhoto, wide shot, wide-angle lens, Clinical research organization, sunset photo at golden hour, photo by Peter Lik: https://img.midjourneyapi.xyz/temp/02f7778c-d723-4fb3-bdef-fabb7e5fc9c8.png

Shares of Tonix Pharmaceuticals Holding (NASDAQ: TNXP) were crashing 22.7% as of 10:54 a.m. ET on Tuesday. This marked the second consecutive day of big losses for the pharma stock.

The sell-off came after Tonix announced a 1-for-32 reverse stock split on Monday afternoon. This stock split took effect today.

Reverse stock splits aren't a sign that things are going well for a company. That's certainly the case for Tonix.

Source Fool.com

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