Why Volcon Shares Are Diving
Portfolio Pulse from Henry Khederian
Volcon Inc (NASDAQ:VLCN) shares dropped by 31.7% after the company announced the pricing of its underwritten public offering. The offering is expected to generate gross proceeds of $700,000, consisting of 1,400,000 shares of common stock at $0.50 per share. The proceeds will be used for general corporate purposes.
September 15, 2023 | 1:55 pm
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Volcon's stock price has dropped significantly following the announcement of its underwritten public offering. This could indicate a lack of investor confidence in the company's current valuation.
The significant drop in Volcon's stock price following the announcement of its underwritten public offering suggests that investors may be skeptical about the company's current valuation. This could lead to further downward pressure on the stock in the short term.
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