Incannex Healthcare Inc (IXHL)

Shares of Incannex Healthcare Limited Inc (IXHL) dropped by 34.54% from $7.99 to $5.23 in the trading on Friday, December 1, 2023. The reason why IXHL is down today is due to the implementation of its redomiciliation from Australia to the United States. With the redomiciliation, Incannex Healthcare Inc. changed its listing from an Australian exchange to The Nasdaq Stock Market LLC (“Nasdaq”) in the United States. This significant corporate change created uncertainty among investors, especially with the shift to a new stock exchange (Nasdaq) and increased regulatory requirements under the U.S. SEC. As a result, some investors chose to sell their shares, leading to the drop in stock price.