Why ENDRA Life Sciences Stock Is Down 65%
Portfolio Pulse from Henry Khederian
ENDRA Life Sciences Inc (NASDAQ:NDRA) shares plummeted by 65% to $0.07 due to a public offering of 61,538,461 shares of common stock with accompanying Series A and Series B warrants. The offering is in a 'best-efforts' format, meaning no guaranteed amount of money raised. The proceeds will be used for general business purposes. The stock has lost 94.95% year to date and has an RSI of 14.7, indicating oversold conditions.
June 04, 2024 | 5:34 pm
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ENDRA Life Sciences shares fell 65% due to a public offering of 61,538,461 shares with accompanying Series A and Series B warrants. The offering is in a 'best-efforts' format, meaning no guaranteed amount of money raised. The stock has lost 94.95% year to date and has an RSI of 14.7, indicating oversold conditions.
The significant drop in share price is directly linked to the public offering announcement, which dilutes existing shares and creates uncertainty about the amount of capital raised. The stock's year-to-date performance and oversold RSI further indicate negative sentiment.
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