Why Fortress Biotech (FBIO) Stock Is Getting Hammered
Portfolio Pulse from Henry Khederian
Fortress Biotech (FBIO) shares dropped 18.5% after announcing an $8 million direct offering and private placements. The company sold shares at $1.65 each and issued warrants at $1.84. The stock has fallen significantly over the past year.
September 20, 2024 | 4:15 pm
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Fortress Biotech's stock fell 18.5% following the announcement of an $8 million direct offering and private placements. The offering includes shares at $1.65 and warrants at $1.84, with proceeds for general corporate use.
The stock price decline is directly linked to the announcement of the direct offering and private placements, which often leads to dilution concerns among investors. The significant drop in stock price reflects market reaction to these offerings.
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