Why Auddia Stock Is Trading Down Today
Portfolio Pulse from Ryan Gustafson
Auddia Inc. (NASDAQ:AUUD) shares are trading lower after announcing a securities purchase agreement with institutional investors for 4,735,000 shares at $0.65 per share, raising approximately $3.1 million before fees and expenses. The offering is expected to close on June 15, 2023.
June 13, 2023 | 7:22 pm
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Auddia's stock price is down after announcing a securities purchase agreement for 4,735,000 shares at $0.65 per share, raising $3.1 million before fees and expenses.
Auddia's stock price is trading lower due to the announcement of the securities purchase agreement, which is priced at-the-market. This dilutes the value of existing shares, leading to a decrease in the stock price. Additionally, the high trading volume indicates increased selling pressure.
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