Why Evoke Pharma (EVOK) Stock Is Volatile
Evoke Pharma Inc (NASDAQ:EVOK) shares ended Tuesday down 16.40% to 42 cents after the company announced a 1-for-12 reverse stock split of its common stock, set to take effect at 12:01 a.m. ET on August 1, 2024. After-hours trading has it up 12.44% at 47 cents.
The reverse stock split means that every 12 shares of the company’s existing common stock will be consolidated into one share. The stock will trade on a split-adjusted basis on NASDAQ under the same symbol, EVOK, starting Aug. 1.
This reverse split, approved by shareholders at the 2024 annual meeting, will not change the par value or the authorized number of shares. Fractional shares will not be issued; instead, shareholders will receive a cash payment for any fractional shares.
Should I Buy, Hold or Sell My EVOK Stock?
When deciding to buy, hold or sell a stock, investors should consider their time horizon, unrealized gains and total return.
Shares of Evoke Pharma have decreased by 75.13% in the past year. An investor who bought shares of Evoke Pharma at the beginning of the year would take a loss of $0.64 per share if they sold it today. The stock has fallen 16.7% over the past month, meaning an investor who bought shares on Jun. 1 would see a capital loss of $0.11.
Investors may also consider market dynamics. The Relative Strength Index can be used to indicate whether a stock is overbought or oversold. Evoke Pharma stock currently has an RSI of 28.29, indicating oversold conditions.
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EVOK has a 52-week high of $1.67 and a 52-week low of 36 cents.
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