Calidi Biotherapeutics Inc ( CLDI ) shares are trading lower by 14.3% to $0.17 during Monday’s session after the company announced a 1-for-10 reverse stock split, effective at 12:01 a.m. Eastern Time on July 15. The company’s common stock will begin trading on a split-adjusted basis on the NYSE American market under the symbol “CLDI”.

The reverse stock split was approved by the company’s stockholders at a Special Meeting on June 6, and finalized by the Board on July 1. As a result, the number of issued and outstanding shares of common stock will be reduced to one-tenth of the pre-split amount, with fractional shares rounded up to the nearest whole share. The reverse stock split will not change the number of authorized shares or the par value per share.

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Should I Sell My CLDI Stock?

When deciding to hold on to or sell a stock, investors should consider their time horizon, unrealized gains and total return.

Shares of Calidi Biotherapeutics ( CLDI ) have fallen 18.15% over the past month, meaning an investor who bought shares on Jun. 1 would see a capital loss of $0.05.

Investors may also consider market dynamics. The Relative Strength Index can be used to indicate whether a stock is overbought or oversold. Calidi Biotherapeutics ( CLDI ) stock currently has an RSI of 56.14, indicating neutral conditions.

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CLDI has a 52-week high of $5.00 and a 52-week low of $0.14.