Established in 2000, PainReform is a pharmaceutical powerhouse that trades on the NASDAQ under the mark “PRFX.” The company has recently changed the par value of its Ordinary Shares and undergone a reverse stock split of one for ten, showing its dedication to increasing shareholder value.
An extraordinary increase in the price of PainReform Ltd. (PRFX) stock on July 11, 2023, forced the suspension of trading on a circuit breaker. Investors and traders took notice as the stock rose by an eye-popping 38.8 percent.
A circuit breaker is a safeguard used by exchanges to temporarily halt trading if extreme price movements threaten the stability of the market. This safeguard is in place to prevent the potentially disastrous impact of a sudden flurry of buying or selling on the market.
The circuit breaker system has three settings, all of which are based on the S&P 500’s closing price from the preceding trading day.
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