GRI Bio recently underwent a 1/30 split on April 24th, accompanied by a merger/restructure of Vallon Pharmaceuticals. The stock price immediately tanked approx. 50% in the following days. The price has held above the low of $5.50 on April 26th for over a month. Based on past performance, this stock has a tendency to jump 30 to >200% in a single day. GRI Bio has touted the merger and restructuring will bring "near term" value to stock holders, and perhaps a catalyst will emerge in the coming month(s). I think this is a safe long with stops at $5.50 or thereabouts. A jump to $10 or higher seems reasonable, but will likely retrace immediately.
Comment:
Calm before the storm.
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GRI Bio announces rebranding and launch of new website
gribio.com/gri-bio-n...unch-of-new-website/
gribio.com/gri-bio-n...unch-of-new-website/
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GRI Bio to Participate in the Healthcare Virtual Conference Presented by Maxim Group LLC and Hosted by M-Vest on Thursday, June 22, 2023 at 12:00 PM ET
quantisnow.com/insight/4645144
quantisnow.com/insight/4645144
Comment:
Brutal.
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What a dumpster fire.