RSLS Stock Price Increases Over 20% Pre-Market: Why It Happened

By Amit Chowdhry ● June 28, 2021
  • The stock price of ReShape Lifesciences Inc (NASDAQ: RSLS) increased by over 20% pre-market. This is why it happened.

The stock price of global weight-loss solutions leader ReShape Lifesciences Inc (NASDAQ: RSLS) increased by over 20% pre-market. Investors are responding positively to a recent SEC filing associated with the company. 

According to the Form SC 13D, Armistice Capital, LLC has 7,223,346 shares of the company. This represents a 49.8% stake.

On June 16, ReShape Lifesciences announced the completion of the previously announced merger with Obalon Therapeutics. And in connection with the merger’s closing, Obalon changed its name to ReShape Lifesciences and the combined company’s common stock started trading under the ticker symbol “RSLS” on The Nasdaq Capital Market at that time.

Disclaimer: This content is intended for informational purposes. Before making any investment, you should do your own analysis.