Why NuZee Stock Is Extremely Volatile This Week
Portfolio Pulse from Henry Khederian
NuZee Inc's shares have dropped by 46% to $2.77 following the company's pricing of a $1.275 million underwritten public offering of 425,000 shares at $3.00 per share. Maxim Group LLC is managing the offering, which is expected to close around October 20. NuZee's 52-week high is $21.35 and its low is $2.61.
October 19, 2023 | 3:35 pm
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NuZee's stock price has dropped significantly following the announcement of its public offering. The offering price is higher than the current trading price, which may have contributed to the drop.
The announcement of a public offering often impacts a company's stock price. In this case, the offering price is higher than the current trading price, which could have led investors to sell their shares, causing the price to drop.
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