What's Going On With Kintara Therapeutics Stock?
Portfolio Pulse from Erica Kollmann
Kintara Therapeutics, Inc. (NASDAQ:KTRA) announced the withdrawal of its registration statement for a public offering, leading to volatile trading. The stock has seen a significant increase in trading volume and a 13% price rise to 9 cents. Over the past year, KTRA shares have decreased by 97.05%, with a loss of $0.06 per share for investors from the beginning of the year. The stock's RSI of 23.07 suggests it is currently oversold.
March 13, 2024 | 5:21 pm
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Kintara Therapeutics announced the withdrawal of its public offering registration, leading to a 13% increase in stock price to 9 cents amid high trading volume.
The withdrawal of the public offering registration likely led to a positive market reaction due to reduced concerns over potential dilution of existing shares. The significant increase in trading volume indicates heightened investor interest, possibly due to perceived undervaluation after the stock's substantial decline over the past year. The RSI of 23.07 suggests the stock was oversold, which may have contributed to the price rebound.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100