# Biggest under-$5 losers today
|Ticker|Company|Price\*|Move|What’s driving it|
|:-|:-|:-|:-|:-|
|**ADGM**|Adagio Medical|\~$0.35|**-28.7%**|Strategic review + workforce reduction|
|**CTNT**|Cheetah Net|\~$0.03|**-24.9%**|Extreme dilution/reverse-split history + continued selling|
|**IMCC**|IM Cannabis|\~$3.19|**-22.9%**|Heavy selling/volatility in cannabis name|
|**SVRE**|SaverOne|\~$2.28|**-18.7%**|Low liquidity + selling pressure|
|**TOPS**|Top Ships|\~$0.73|**-16.3%**|Pullback after prior-day spike/unusual-market activity|
|**DCX**|Digital Currency X|\~$0.09|**-16.3%**|Continued speculative unwind|
|**FBGL**|FBS Global|\~$0.39|**-15.4%**|Reversal after prior-day rally|
|**RAIN**|Rain Enhancement Technologies|\~$0.87|**-14.3%**|Heavy volatility following corporate-deal speculation|
|**SPPL**|SIMPPLE|\~$2.01|**-14.3%**|Very low liquidity|
|**SLXN**|Silexion Therapeutics|\~$0.34|**-13.1%**|Biotech selling pressure|
These figures are from today's under-$5 penny-stock mover screen; intraday prices can change rapidly.
# 🔴 1. ADGM — Adagio Medical
This is one of the more interesting stories today.
Adagio announced this morning that its board has begun a **formal strategic review**. The possibilities include an acquisition, merger, business combination or another transaction. At the same time, the company announced a **workforce reduction** to reduce costs.
There was also an existing Nasdaq compliance issue: Adagio reported stockholders' equity of **-$415,000**, below Nasdaq's $2.5 million minimum requirement.
**Why traders are selling:**
Strategic-review language + layoffs + Nasdaq compliance concerns = significant uncertainty about the company's future financing and structure.
# 🔴 2. CTNT — Cheetah Net
This is arguably one of the most extreme names on the list.
CTNT was around **$0.034** today and down roughly **22–25%**, with approximately **100 million shares** traded in the session.
The bigger story is the stock's collapse over the past few weeks. It has fallen roughly **96.5% from September 8 to September 23**.
Its market capitalization has become extraordinarily small, and the stock has experienced enormous share-volume changes and previous corporate actions.
**Why traders are selling:**
This looks much more like a **micro/nano-cap dilution + supply + momentum unwind** situation than a normal fundamental selloff.