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STRATA Skin Sciences Inc (NASDAQ:SSKN) shares have rocketed by 50% in late morning trading after the company executed a 1-for-5 reverse stock split that took place at the opening of trading on April 7. Due to the reverse stock split, STATA is now in compliance with the $1 minimum bid price requirement for the continued listing on the NASDAQ capital market.
De-listed/OTC stocks typically command lower valuations than listed NASDAQ/NYSE stocks due to less visibility. Because STRATA Skin Sciences Inc (NASDAQ:SSKN)’s stock price is now comfortably higher than the $1 per share level, sentiment around the name has improved due to less fear that it might be de-listed in the near future. Due to the improved sentiment, STRATA Skin Sciences shares have rallied.
What Does The Smart Money Sentiment Say?
At Insider Monkey, we’ve developed an investment strategy that has delivered market-beating returns over the past 12 months. Our strategy identifies the 100 best-performing funds of the previous quarter from among the collection of 700+ successful funds that we track in our database, which we accomplish using our returns methodology. We then study the portfolios of those 100 funds using the latest 13F data to uncover the 30 most popular mid-cap stocks (market caps of between $1 billion and $10 billion) among them to hold until the next filing period. This strategy delivered 39.7% gains over the past 12 months and outperformed the 24.1% gain enjoyed by the S&P 500 ETFs. Our enhanced small-cap hedge fund strategy returned more than 45% over the last 12 months and outperformed SPY by more than 30 percentage points over the last 4.5 years (see details here).
None of the 742 top funds that we track owned shares of STRATA Skin Sciences Inc (NASDAQ:SSKN) at the end of the fourth quarter. Some of the funds that sold out during the time period, however, include Broadfin Capital, Citadel Investment Group, and Sabby Capital.
The Bottom Line
STRATA Skin Sciences Inc (NASDAQ:SSKN) shares have surged due to a reverse stock split. For more reading, check out ‘Foods That Improve Your Skin Texture‘.
Trade (NASDAQ:SSKN) Now!
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