Why Tonix Pharmaceuticals Stock Is Crashing Again Today

Shares of Tonix Pharmaceuticals Holding (NASDAQ: TNXP) were crashing 22.7% as of 10:54 a.m. ET on Tuesday. This marked the second consecutive day of big losses for the pharma stock.

The sell-off came after Tonix announced a 1-for-32 reverse stock split on Monday afternoon. This stock split took effect today.

Reverse stock splits aren't a sign that things are going well for a company. That's certainly the case for Tonix.

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Source Fool.com