MDJM shares are trading lower after the company announced a $2.45 million private placement, issuing 2,722,224 units at a purchase price of $0.90 per unit.
Portfolio Pulse from Benzinga Newsdesk
MDJM shares fell following the announcement of a $2.45 million private placement, issuing 2,722,224 units at $0.90 each.
September 11, 2024 | 6:09 pm
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MDJM's stock price declined after the company announced a private placement of $2.45 million, issuing over 2.7 million units at $0.90 per unit.
The announcement of a private placement often leads to a decrease in stock price due to dilution concerns. The issuance of 2.7 million units at a price lower than the current market price can lead to a negative sentiment among investors, causing the stock to trade lower.
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IMPORTANCE 80
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