Regencell Bioscience (RGC) Nosedives 19.8% on Profit-Taking

Regencell Bioscience Holdings Ltd. (NASDAQ:RGC) is one of the 10 Stocks Crash Hard Alongside Wall Street.

Regencell Bioscience fell by 19.83 percent on Monday to close at $18.43 apiece as investors appeared to have taken profits following Friday’s 122-percent surge.

Monday’s drop, however, was primarily due to the lack of catalysts to support investing appetite, with analysts underscoring last week that Friday’s surge was only due to short-selling activity.

Regencell Bioscience Holdings Ltd. (NASDAQ:RGC) is a Hong Kong-based company that uses traditional Chinese medicine to treat Attention Deficit Hyperactivity Disorder (ADHD) and Autism Spectrum Disorder (ASD).

Last month, the company embarked on a 38-for-one forward stock split paid in the form of a stock bonus.

The forward stock split was intended to enhance liquidity in the market for the company’s ordinary shares and make the shares more accessible to investors.

Following the split, Regencell Bioscience Holdings Ltd.’s (NASDAQ:RGC) outstanding shares have increased at the ratio of the forward stock split. The company’s authorized share capital and the share par value, however, remained unchanged.

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Disclosure: None. This article is originally published at Insider Monkey.