Why Draganfly (DPRO) Stock Is Volatile Today
Portfolio Pulse from Henry Khederian
Draganfly Inc. (NASDAQ:DPRO) shares fell by 9.9% to $0.13 after announcing a $2 million direct offering of 16.6 million units at $0.12 per share. Each unit includes one common share and a warrant to purchase an additional share at $0.15. The offering aims to fund corporate purposes and is expected to close by August 21.
August 20, 2024 | 2:50 pm
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NEGATIVE IMPACT
Draganfly's stock dropped 9.9% following the announcement of a $2 million direct offering. The offering includes 16.6 million units priced at $0.12 per share, with warrants for additional shares at $0.15. The funds will support corporate activities.
The direct offering dilutes existing shares, leading to a 9.9% drop in stock price. The offering price is below the current market price, which typically pressures the stock downward. The funds are for general corporate purposes, which may not immediately boost investor confidence.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100