Why Edible Garden Stock Is Down Nearly 50%
Portfolio Pulse from Henry Khederian
Edible Garden AG Inc (NASDAQ:EDBL) shares dropped nearly 50% after the company announced a $6 million public offering. The offering includes 2.655 million shares of common stock, Class A and Class B warrants, priced at $2.26 per share. The stock has fallen 92.9% over the past year.
May 22, 2024 | 4:02 pm
News sentiment analysis
Sort by:
Ascending
NEGATIVE IMPACT
Edible Garden AG Inc (NASDAQ:EDBL) shares fell nearly 50% following the announcement of a $6 million public offering. The offering includes 2.655 million shares of common stock and warrants, priced at $2.26 per share. The stock has seen a significant decline over the past year.
The significant drop in share price is directly linked to the announcement of the public offering, which dilutes existing shares and raises concerns about the company's financial health. The stock's historical performance and current RSI indicate neutral conditions, but the immediate impact is negative.
CONFIDENCE 100
IMPORTANCE 100
RELEVANCE 100