Altamira Therapeutics Ltd (CYTO)

Shares of Altamira Therapeutics Ltd (CYTO) dropped by 53.79% from $0.4099 to $0.1894 in the trading on Monday, December 11, 2023. The reason why CYTO down today is due to the company's announcement of an investor and business update. Specifically, the company's board has decided to execute a 20-for-1 reverse stock split on December 13, 2023. Reverse stock splits are often seen as a financial strategy used by companies when their stock price reaches very low levels. While this maneuver increases the share price by reducing the number of outstanding shares, it does not alter the company's fundamental value. However, it can signal financial challenges or reduced investor confidence, resulting in adverse market reactions. Investors are closely monitoring the company's developments and how this decision may affect its future performance.