iBio Inc (IBIO)

iBio Inc Stock (IBIO) dropped by 31.03% from $0.29 to $0.2 in the trading on Tuesday November 28, 2023. The reason why IBIO stock down today is due to the announcement of a stock split. iBio, Inc. has announced a 20-to-1 reverse stock split of its common stock, effective November 29, 2023. The reverse stock split will reduce the number of outstanding shares from 28.1 million to 1.4 million. The reverse stock split was authorized by iBio's stockholders at the Company's 2023 Annual Meeting. The company believes that the reverse stock split will enhance the liquidity of its common stock and make it more attractive to institutional investors.