Why SenesTech Shares Are Trading Lower By Around 50%? Here Are Other Stocks Moving In Tuesday's Mid-Day Session
Portfolio Pulse from Lisa Levin
SenesTech, Inc. (NASDAQ:SNES) shares plummeted by approximately 50% after announcing the pricing of a $5.0 million public offering at $1.30 per share with additional warrants. The stock dropped to $0.9189. Other stocks experienced significant movements, with gainers including IceCure Medical Ltd (ICCM), RedHill Biopharma Ltd. (RDHL), and HNR Acquisition Corp (HNRA), among others. Losers included Tharimmune, Inc. (THAR), Cabaletta Bio, Inc. (CABA), and Acelyrin, Inc. (SLRN), with Tharimmune's shares falling sharply after pricing its public offering at $1 per share.
November 28, 2023 | 7:44 pm
News sentiment analysis
Sort by:
Descending
NEGATIVE IMPACT
SenesTech's stock price plunged after the company announced a public offering at a price significantly lower than the recent trading price, indicating dilution for existing shareholders.
The pricing of the public offering at $1.30 per share is substantially lower than the previous market price, leading to a sharp decline in the stock due to dilution fears and increased supply of shares.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100
NEGATIVE IMPACT
Tharimmune's stock price suffered a severe drop after the company priced its $10 million public offering at $1 per share, which likely indicates dilution and a lack of investor confidence.
The significant discount in the public offering price compared to the market price suggests dilution of value for existing shareholders and may reflect a negative market sentiment towards the company.
CONFIDENCE 85
IMPORTANCE 85
RELEVANCE 100