Regencell Bioscience Stock Volatility Continues Monday
The stock price quadrupled when a 38-to-1 stock split went into effect last month, and it skyrocketed 122% last Thursday.
Regencell Bioscience Holdings has reported a loss in each of the last three years.The wild ride for shares of Regencell Bioscience Holdings (RGC) continued Monday following the company's unusual stock split last month.
The stock—which skyrocketed 122% last Thursday—began today's trading higher, then turned lower, then alternated between gains and losses. Shares recently were down 4%.
Regencell, a Hong Kong-based firm that uses traditional Chinese medicine to treat Attention Deficit Hyperactivity Disorder (ADHD) and Autism Spectrum Disorder (ASD), announced the 38-to-1 stock split June 2, and it was distributed to investors on June 13. In the following session, shares quadrupled. They peaked the following day, then plunged to a six-week low last Wednesday before the big jump the following session.
Other than the stock split, it's unclear what has been driving the stock price, since in its last financial report filed last October, Regencell noted it had lost money in each of the last three years.
Shares of Regencell Bioscience Holdings are up some 17,000% this year.
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