HomeMarket NewsMicro Cap StocksWhy INVO BioScience Stock Dropped Today and Trading Was Halted Multiple Times

Why INVO BioScience Stock Dropped Today and Trading Was Halted Multiple Times

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Today, investors and traders witnessed a sharp decline in the stock price of INVO BioScience Inc (NASDAQ: INVO). The company made a significant announcement regarding its acquisition of NAYA Biosciences, which led to a tumultuous day of trading accompanied by several trading halts.

In this all-stock transaction, shareholders of NAYA Biosciences will receive 7.3333 shares of INVO for each share held, resulting in a total of approximately 18,150,000 shares of INVO. Upon completion of the merger, the combined entity is expected to operate under the name β€œNAYA Biosciences.”

The market reaction to this news was characterized by abnormally high trading volume, with 4.86 million shares being traded compared to the average volume of 1.83 million shares. Additionally, the stock experienced multiple trading halts throughout the day, adding to the volatility of the situation.

As of the time of publication, INVO shares were down 6.08% in the after-hours session, trading at $1.41. This decline follows a further drop of 30.19% by market close, with the price reaching $1.48. It is evident that investors are responding swiftly to the merger announcement, impacting the stock’s performance.

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