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WaveDancer, Inc. (NASDAQ:WAVD) shares are trading higher Monday after the company announced that both WaveDancer and Firefly Neuroscience, Inc. have each received the requisite stockholder approvals required to consummate the merger between both companies.
The Details:
WaveDancer said that it obtained stockholder approval at a special meeting of its stockholders held on March 14, and the Firefly approval was obtained through a written consent by the holders of a majority of the outstanding voting shares of Firefly.
“The WaveDancer favorable shareholder vote is an important step in consummating the merger and reinventing WaveDancer as an AI-enabled neurological health platform,” said Jamie Benoit, CEO of WaveDancer. “We thank our shareholders for participating in the vote.”
The company expects the merger to be completed in the second quarter of 2024. WaveDancer said the combined company is expected to operate under the name Firefly Neuroscience, Inc., and trade on the Nasdaq Capital Market.
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When deciding to hold on to or sell a stock, investors should consider their time horizon, unrealized gains and total return.
Shares of WaveDancer have decreased by 40.41% in the past year. An investor who bought shares of WaveDancer at the beginning of the year would make a profit of $2.01 per share if they sold it today. The stock has risen 68.35% over the past month, meaning an investor who bought shares on Feb. 1 would see a capital gain of $1.22.
WaveDancer shares have an all-time high of $58.5, representing 1494.01% upside from current levels.
Investors may also consider market dynamics. The Relative Strength Index can be used to indicate whether a stock is overbought or oversold. WaveDancer stock currently has an RSI of 85.69, indicating overbought conditions.
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WAVD Price Action: According to Benzinga Pro, WaveDancer shares are up 17.9% at $3.62 at the time of publication.
Image: Kanenori from Pixabay
Posted In: WAVD
