Why Siyata Mobile (SYTA) Stock Is Down 40%
Portfolio Pulse from Henry Khederian
Siyata Mobile Inc (SYTA) stock is down 40% after the company priced a 50 million share offering at $0.045 per share, expecting to raise approximately $2.25 million in gross proceeds. The offering is set to close on June 28.
June 27, 2023 | 2:16 pm
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Siyata Mobile's stock price has dropped 40% after announcing a 50 million share offering at $0.045 per share, with the aim of raising $2.25 million in gross proceeds.
The stock price of Siyata Mobile has dropped significantly due to the announcement of a 50 million share offering at a low price of $0.045 per share. This dilutes the value of existing shares, leading to a decrease in the stock price.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100