Movano stock dips premarket after 150% surge on Corvex deal
Movano shares slipped 1% premarket after soaring 150% Monday on news of a reverse merger with cloud firm Corvex. The deal, valuing shares at $6.25, includes $40 million in funding and a new credit line. Following completion, Corvex shareholders will own 96% of the combined company, signalling Movano pivot from wearables to cloud computing.