Matteo Colombo
- Shares of Tenon Medical (NASDAQ:TNON) were down 23% in afternoon trading Friday after it conducted a 1-for-8 reverse stock split.
- Tenon shares recently sold for $3.73 at around 3:00 p.m. ET. The stock’s adjusted closing price on Thursday was $4.83, up 38% from Wednesday’s close of $3.51.
- The medical device company announced the stock split on Sept. 4, adding it was conducting the split to meet Nasdaq’s minimum $1.00 average closing price requirement to maintain its listing.
