Why Tharimmune (THAR) Shares Are Getting Hammered
Portfolio Pulse from Henry Khederian
Tharimmune Inc (NASDAQ:THAR) shares dropped by 30% to $3.60 after announcing an 'at the market' offering agreement with Rodman & Renshaw LLC for up to $1.65 million worth of its common stock. The company has lost 97.58% year to date, with an RSI of 73.95 indicating overbought conditions.
June 10, 2024 | 4:04 pm
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NEGATIVE IMPACT
Tharimmune Inc (NASDAQ:THAR) shares fell by 30% to $3.60 after announcing an 'at the market' offering agreement with Rodman & Renshaw LLC for up to $1.65 million worth of its common stock. The stock has lost 97.58% year to date and has an RSI of 73.95, indicating overbought conditions.
The announcement of an 'at the market' offering typically dilutes existing shares, leading to a drop in share price. The significant year-to-date loss and high RSI indicating overbought conditions further suggest a negative short-term impact.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100