Why Altamira Therapeutics (CYTO) Stock Is Getting Hammered
Portfolio Pulse from Henry Khederian
Altamira Therapeutics Ltd (NASDAQ:CYTO) shares dropped by 19.23% after the company announced a $5 million public offering. The offering of 11,111,112 common shares is priced at 45 cents per share. The proceeds will be used for research and development, working capital, and general corporate purposes, including potential debt repayment.
July 06, 2023 | 12:53 pm
News sentiment analysis
Sort by:
Ascending
NEGATIVE IMPACT
Altamira Therapeutics' stock price dropped following the announcement of a public offering. The offering is expected to raise funds for various corporate purposes.
The announcement of a public offering often leads to a decrease in the stock price as it dilutes the value of existing shares. In this case, Altamira Therapeutics' stock price dropped by 19.23% following the announcement. The funds raised from the offering will be used for various corporate purposes, which could potentially improve the company's financial position in the long term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100