Black Titan (BTTC) Stock Plummets 58% After Titan Pharma Merger
The newly formed company, which began trading on Nasdaq this week, faces intense volatility following the finalized deal and ahead of a planned reverse stock split.
Shares of Black Titan Corporation (BTTC), the newly formed entity resulting from the merger of Titan Pharmaceuticals (TTNP), plunged more than 58% in recent trading, experiencing extreme volatility just days after its Nasdaq debut. The dramatic downturn followed an initial, speculative surge of nearly 300%, as investors grapple with the valuation of the combined company.
The merger was , with Titan Pharmaceuticals becoming a wholly-owned subsidiary of Black Titan. Following the deal's close, Titan's former ticker, TTNP, was delisted, and the new entity's shares began trading under the BTTC symbol on October 2. The transaction involved a one-for-one conversion of Titan common stock into the ordinary shares of the new corporation.
The market's reaction has been turbulent. After the initial euphoria, the stock fell sharply to around $10.02 from a previous close of $23.98. This price action indicates a period of as the market reassesses the company’s fundamentals and future prospects post-merger, landing it on the day's top losers list.
Despite the rocky start on the public market, leadership expressed optimism. Chay W. J., CEO of Black Titan, called the merger ',' aiming to bring 'transformative value' to stakeholders. The company is now looking ahead to its next major corporate action.
Investors are now watching for a planned scheduled to be effective on October 7, 2025. This move, which will consolidate the number of existing shares into fewer, higher-priced shares, is designed to adjust the company's capital structure and could influence trading activity in the coming week.