Why Smart For Life (SMFL) Stock Is Volatile During Friday's Session
Portfolio Pulse from Henry Khederian
Smart for Life Inc (NASDAQ:SMFL) shares are down 38% to $3.70 due to agreements with warrant holders to exercise at a reduced price. The company will issue new warrants and file a registration statement for resale by July 15, 2024. The stock has decreased by 95.39% in the past year.
May 31, 2024 | 4:04 pm
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Smart for Life Inc (NASDAQ:SMFL) shares are down 38% to $3.70 due to agreements with warrant holders to exercise at a reduced price. The company will issue new warrants and file a registration statement for resale by July 15, 2024.
The significant drop in share price is directly linked to the company's decision to allow warrant holders to exercise at a reduced price, which dilutes existing shares. The issuance of new warrants and the upcoming registration statement for resale add further uncertainty.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100