Why Elevai Labs (ELAB) Stock Is Down 60% Today
Portfolio Pulse from Henry Khederian
Elevai Labs Inc (NASDAQ:ELAB) shares plummeted by 60% to 11 cents after announcing an $8 million public offering. The offering includes 28.57 million shares with Series A and B Warrants. Proceeds will support corporate purposes. The offering is expected to close by September 24, 2024.
September 23, 2024 | 3:08 pm
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Elevai Labs Inc's stock fell 60% following the announcement of an $8 million public offering. The offering includes 28.57 million shares with Series A and B Warrants, impacting the stock price significantly.
The announcement of a large public offering often leads to a decrease in stock price due to dilution concerns. The 60% drop reflects investor reaction to the offering's terms and potential dilution.
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