Inotiv Stock Slides After Chapter 11 Plan Signals Shareholders at Risk
Inotiv Inc. shares dropped further into penny-stock range Thursday. The drug-research services firm rolled out a prepackaged Chapter 11 plan that wipes out existing shareholders, offering them no recovery. The stock last changed hands at 8.66 cents, off roughly 28% from where it closed before. Shares moved in a range from 7.79 cents to 11.8 cents. Volume topped 15 million shares.