Why TC BioPharm (TCBP) Stock Is Down 40%
Portfolio Pulse from Henry Khederian
TC BioPharm (NASDAQ:TCBP) shares dropped 44% to $2.00 after announcing a 2 million unit offering at $1 per unit. The funds will support a clinical trial for Acute Myeloid Leukemia and other expenses. The stock has decreased 96.36% over the past year and 59.44% over the past month, with an RSI of 20.56 indicating oversold conditions.
August 14, 2024 | 1:21 pm
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TC BioPharm shares fell 44% to $2.00 after announcing a 2 million unit offering at $1 per unit. The funds will support a clinical trial for Acute Myeloid Leukemia and other expenses. The stock has decreased 96.36% over the past year and 59.44% over the past month, with an RSI of 20.56 indicating oversold conditions.
The significant drop in share price is directly linked to the announcement of the unit offering, which dilutes existing shares. The funds raised are intended for a clinical trial and operational expenses, but the market reaction indicates investor concern over dilution and financial stability. The RSI suggests the stock is oversold, but the immediate impact is negative.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100