ATNF - 1 for 20 Reverse Split - 2M float

Twitter catching some wind on $ATNF reverse split happening today, from 40.5M shares to around 2M. They are doing this to comply with the minimum $1.00 bid requirement on the Nasdaq.

Fundamentally, reverse stock splits are bearish because it means share price has fallen so much that they need to resort to a reverse split to artifically bring the price back up for compliance issues. However, market can be retarded and like the “low float”-ness.

According to fintel, 2M pre-reverse split shares are insider shares, which means that insiders will own around 100,000 shares post-split.

$ATNF is a clinical stage bio stock.

Just posting this on forum to catch some discussion, not necessarily playing it.

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Based on a quick research i do not see any near-term catalyst that could trigger a play, so I guess that leaves us with “low float” P&D play.


Looks like they are also doing an offering so pretty much a nothing burger unless I am missing something.


Guess we ended up missing something. Looks like ATNF ran hard off this shareholder’s letter discussing trial results that exceeded expectations.