Last month Castor Maritime (NASDAQ:CTRM) had been in the news after the company had a stock split and helped the company in remaining listed on NASDAQ. Without this move the stock would have been forced to trade in the over the counter exchanges.
That being said, it does not do much for the prospects of the Castor Maritime stock. It is important to note that the company is well known for having diluted its stock several times in the past and as a matter of fact, it has done so at different time in 2021 already.
Hence, it could be argued that the Castor Maritime stock could actually see more dilution in the coming months. Moreover, the reverse stock split is expected to bring in more selling pressure on the stock although the step might have been successful in keeping it on NASDAQ. The Reddit fuelled rally is unlikely to return either and in this situation, investors might do well to sit on the sidelines when it comes to this stock.
Key Moving Averages
|+/- EMA(20)||3.79 (-13.72%)|
|+/- SMA(50)||4.72 (-30.72%)|
|+/- SMA(200)||4.14 (-21.01%)|