Why Edible Garden (EDBL) Shares Are Nosediving
Portfolio Pulse from Henry Khederian
Edible Garden AG Inc (NASDAQ:EDBL) shares have dropped by 28% to $0.93 after the company priced its $3.0 million underwritten public offering. The company has also granted underwriters an option to purchase additional shares and/or warrants to cover over-allotments. The offering is expected to close on September 8.
September 07, 2023 | 3:59 pm
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Edible Garden's stock price has fallen significantly due to the pricing of its underwritten public offering. This could indicate a lack of investor confidence in the company's current valuation.
The significant drop in Edible Garden's stock price following the pricing of its public offering suggests that investors may see the offering price as too high, indicating a lack of confidence in the company's current valuation. This could lead to further downward pressure on the stock in the short term.
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