What Happened With Jet.AI Stock Today?
Portfolio Pulse from Erica Kollmann
Jet.AI Inc. (NASDAQ:JTAI) shares fell after announcing a direct offering of 26.6 million shares at nine cents each, raising approximately $2.4 million. The stock dropped 11.77% during regular trading but rose 8.57% after-hours.
October 10, 2024 | 9:08 pm
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Jet.AI announced a direct offering of 26.6 million shares at $0.09 each, causing the stock to fall 11.77% during regular trading. The offering aims to raise $2.4 million, with the stock rebounding 8.57% after-hours.
The announcement of a direct offering typically dilutes existing shares, leading to a decrease in stock price. This was evident as JTAI shares fell 11.77% during regular trading. However, the after-hours rebound of 8.57% suggests some investor optimism or bargain buying.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100