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Thursday, May 19, 2022

How Did The Jo-Jo Drugstores (CJJD) Stock Fall Nearly 12%?

China Jo-Jo Drugstores Inc. (CJJD) shares were falling by -12.88% to trade at $0.25 in current market at last check. Jo-Jo Drugstores (CJJD) stock closed the previous session at $0.29. The stock volume remained 0.68 million shares, which was higher than the average daily volume of 0.26 million shares within the past 50 days.

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Jo-Jo Drugstores (CJJD) shares have fallen by -73.44% over the last 12 months, and they have moved down by -13.61% in the past week. Over the past three months, the stock has lost -24.81%, while over the past six months, it has shed -54.78%. Further, the company has a current market of $12.25 million and its outstanding shares stood at 41.75 million. CJJD stock is falling before a stock split move.

How CJJD will execute a stock split?

Jo-Jo Drugstores (CJJD) is a main on the web and disconnected retailer and discount merchant of drug and other medical care items and a supplier of medical services administrations in China. Jo-Jo Drugstores now works as an internet-based drug store and retail pharmacies with authorized specialists on location for the meeting, assessment, and therapy of normal illnesses at booked hours. CJJD is additionally a discount merchant of items like those conveyed in its drug stores.

Jo-Jo Drugstores (CJJD) revealed that it hopes to execute a 1-for-12 opposite stock split on its standard offers viable Thursday, April 7, 2022.

CJJD will start exchanging on a split-changed premise at the market open on that day.

Exchanging the conventional offers will progress forward with the Nasdaq Capital Market under the image “CJJD”.

The new CUSIP number for the common offers following the converse stock split is G2124G 112.

Upon the viability of the converse stock split, every 12 CJJD shares given an extraordinary conventional offer will consequently be changed over into one given and exceptional common offer.

No partial offers will be given because of the converse stock split. All things considered, any fragmentary offers that would have come about because of the split will be gathered together to the following entire number.

The converse stock split influences all investors consistently and won’t change any investor’s rate revenue in the Company’s extraordinary normal offers, with the exception of changes that might result from the treatment of fragmentary offers.

How does CJJD make the split possible?

The opposite stock split at a proportion of 1-for-12 offers was supported by the Jo-Jo Drugstores (CJJD) top managerial staff and its investors. CJJD documented a Second Amended and Restated Memorandum and Articles of Association with the Cayman Islands Registrar of Companies.

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