Crown Electrokinetics Stock Declines As Investors Get Ready To Vote On Reverse Stock Split Proposal Next Week: Retail Bullish
In December, Crown CEO Doug Croxall had urged shareholders to vote in favor of a reverse stock split proposal.
FollowShares of Crown Electrokinetics Corp. (CRKN) declined in morning trade on Tuesday, falling nearly 1% as investors got ready to vote on a reverse stock split proposal.
In December, Crown CEO Doug Croxall had urged shareholders to vote in favor of a reverse stock split proposal. This, he said, was a “critical step” in making sure the company meets Nasdaq’s listing requirements.
“As we scale, we are actively refining our business processes to align with our growing operations while maintaining agility and focus,” he said.
Crown Electrokinetics guided for $30 million to $35 million in revenue for the 2025 financial year, which is an increase of 50% to 75% over 2024.
That said, Croxall expressed anguish over the company’s valuation not reflecting its potential for success in the future.
“We share in your frustration that our market value, trading at approximately our current cash value, does not yet reflect either Crown’s recent achievements or its immense future potential,” he said.
Retail sentiment on Stocktwits was ‘bullish’ despite the CRKN stock’s volatile movement in Tuesday trade – in the pre-market hours and early trade, CRKN stock price gained over 4%. However, at the time of writing, it was down nearly 1%.
Retail traders remained optimistic about CRKN’s prospects.
In the past six months, CRKN share price has fallen by more than 95%, while its one-year performance has been worse with a decline of over 99%.
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