Why Did Assertio Holdings Inc (NASDAQ:ASRT) Gap Lower?

Assertio Holdings Inc (NASDAQ:ASRT) is taking a hit on Monday. Will it rebound?

Market Action

As of 12.49, ASRT is down 11.07% to $0.4378. More than 6.51 million shares have been traded hands. The stock has moved within a range of $0.4190-$0.4579 after gapping lower on the open to $0.4280. Investors apparently did not like this mornings news.

ASRT Adjourns Annual Meeting of Shareholders

Assertio Holdings, Inc. Announces Adjournment of Annual Meeting of Shareholders

  • ASRT announced partial results and the partial adjournment of the Company’s 2021 Annual Meeting of Shareholders (the “Annual Meeting”), which was held at 1:00 p.m. Central Time on May 11, 2021 and at which time all director nominees were elected and Proposals 4 and 5, as set forth in the Company’s Definitive Proxy Statement, were approved by stockholders.
  • The Company adjourned the meeting with respect to Proposal 2 (the “Reverse Split and Proportional Authorized Shares Reduction Proposal”) and Proposal 3 (the “Increase in Authorized Shares Proposal”) for the limited purpose of allowing additional time for stockholders to vote.
  • Support for Proposal 2 has exceeded 80% of the votes cast on the proposal, though approval of more than 50% of all of the Company’s outstanding shares of common stock is necessary for the proposal to be approved.

Trader Notes

Share Information

SHARE FLOAT (%)169.01 M (97.60%)

Recent Stock Performance

5-DAY PERF.-14.98%
1-MONTH PERF.-10.02%
3-MONTH PERF.-61.13%
6-MONTH PERF.+23.66%
YTD PERF.+21.73%
1-YEAR PERF.-46.26%

Moving Averages

+/- EMA(20)0.52 (-15.38%)
+/- SMA(50)0.65 (-32.31%)
+/- SMA(200)0.67 (-34.33%)

Pivot Points

NameS3S2S1Pivot PointsR1R2R3

Technical Indicators

CCI20-86.7407SellChaikin Money Flow-0.1820Sell
MACD-0.0619SellMoney Flow Index50.9062Buy
STOCH (14,3)18.3636OverSoldSTOCH RSI0.3312Neutral
UO38.2183SellWilliams %R-81.6364OverSold

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