Why SINTX Technologies Stock Is Down 50%
Portfolio Pulse from Henry Khederian
SINTX Technologies Inc (NASDAQ:SINT) shares plummeted by 48.7% to $0.04 after announcing a $1.3 million public offering of common stock at $0.047 per share. The offering, managed by Maxim Group LLC, aims to raise funds for working capital and general corporate needs. The stock's 52-week range is from $0.04 to $2.47.
March 25, 2024 | 4:06 pm
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SINTX Technologies Inc's stock price plummeted following the announcement of a public offering of common stock, aiming to raise approximately $1.3 million.
The significant drop in SINTX Technologies Inc's stock price is directly related to the announcement of its public offering of common stock. Public offerings often lead to dilution of shares, causing existing shares to decrease in value. The low offering price of $0.047 per share, compared to its 52-week high of $2.47, indicates a substantial dilution effect, which likely contributed to the stock's sharp decline.
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