Cosmos Health Inc.’s stock price nearly tripled Friday as investors responded to the company’s reverse stock split.
The... Cosmos Health Inc.’s stock price nearly tripled Friday as investors responded to the company’s reverse stock split. The stock initially plunged Friday before rallying for a 178.9% daily gain to $23.01 amid record trading volume, though shares then fell more than 35% in the first half-hour of after-hours trading. Volume in the regular session reached a record of more than 115 million shares Friday, according to FactSet, which recorded a previous daily volume record of 16.1 million on Nov. 23 and a five-day average volume of 2.1 million.
Some traders on Twitter complained that exchanges such as Robinhood Markets Inc. HOOD and Charles Schwab Corp.’s SCHW TD Ameritrade were unable to complete trades on the stock. Neither company responded to emails from MarketWatch seeking to confirm the issues and determine a reason, though TD Ameritrade’s verified Twitter account did respond to some users to say that it had not received the new post-split shares yet.
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