Edible Garden shares are trading lower after the company announced a $5.65 million offering at $0.36 per share.
Portfolio Pulse from Benzinga Newsdesk
Edible Garden shares fell after the company announced a $5.65 million offering at $0.36 per share, which is below the current market price.
September 27, 2024 | 2:41 pm
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NEGATIVE IMPACT
Edible Garden's stock price is negatively impacted by the announcement of a $5.65 million offering at $0.36 per share, which is below the current market price.
The offering price of $0.36 per share is below the current market price, which typically leads to a decrease in stock value as it dilutes existing shares and indicates potential financial needs.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100