Why Harmony Biosciences (HRMY) Stock Is Down 18% Today
Portfolio Pulse from Henry Khederian
Harmony Biosciences (HRMY) stock fell 18.3% after announcing a public offering of up to 8 million shares by selling shareholders. The offering won't increase the company's share count, and proceeds go to the sellers. A lock-up agreement restricts insider sales for 60-90 days.
October 30, 2024 | 7:06 pm
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Harmony Biosciences' stock dropped 18.3% due to a public offering of 8 million shares by selling shareholders. The offering won't increase the company's share count, and proceeds go to the sellers. A lock-up agreement restricts insider sales for 60-90 days.
The stock price of HRMY fell significantly due to the announcement of a large public offering by selling shareholders, which can lead to concerns about stock dilution and market perception. Although the share count remains unchanged, the market reacted negatively to the news.
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