Why Aclarion (ACON) Shares Are Down Over 60% Today
Portfolio Pulse from Henry Khederian
Aclarion Inc (NASDAQ:ACON) shares plummeted by 62.5% to $0.34 after announcing a public offering of 5.175 million units at $0.58 per unit, aiming to raise about $3.0 million. The offering includes shares of common stock (or pre-funded warrants) and two common warrants, with Maxim Group LLC as the placement agent. The significant drop in ACON's stock price follows a 94.07% decrease over the past year, with the stock hitting a 52-week low of $0.87 and a high of $37.92. The current RSI indicates oversold conditions.
February 26, 2024 | 2:28 pm
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Aclarion Inc's stock plummeted following the announcement of a public offering priced at $0.58 per unit, aiming to raise about $3.0 million. The offering has significantly impacted the stock price, which has already been on a downward trend over the past year.
The sharp decline in Aclarion Inc's stock price is directly related to the announcement of its public offering, which is typically viewed negatively by the market as it dilutes existing shareholders' equity. The already declining trend of the stock over the past year exacerbates the impact, making it likely that the stock price will continue to face downward pressure in the short term.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100