Why Is ASP Isotopes (ASPI) Stock Down 19% Today?

InvestorPlace

ASP Isotopes stock is down on Friday after the development stage advanced materials company announced a proposed public offering for its shares.

The company hasn’t revealed the finer details of this offering just yet. That means we don’t know how many shares it will include or what they will be priced at. We also don’t know how much it expects to raise from the offering.

What he do know is that ASP Isotopes intends to offer an additional 15% of shares in the offering to underwriters. This will give sole bookrunner Canaccord Genuity 30 days after the offering to acquire ASPI shares at the offering price.

What This Means for ASPI Stock

A public offering will increase the total number of ASPI shares on the public market. Doing this will also dilute the stakes of investors in the company. This is one of the reasons why the stock is falling on Friday.

Additionally, the shares in the public offering are likely to be discounted from the stock’s prior closing price. This has investors anticipating that discount, which helps explain why the stock is down when the price hasn’t been announced yet.

ASPI stock is down 19.4% as of Friday morning. The shares are up 104.6% since the start of the year.

Investors will want to keep reading for more of the most recent stock market stories!

We have all of the hottest stock market news traders need to know about on Friday! That includes what’s going on with Shineco stock, Toyo T shares and Crown LNG C stock this morning. All of that news is ready at the links below!

More Stock Market News for Friday

Why Is Shineco (SISI) Stock Down 54% Today?
Why Is Toyo (TOYO) Stock Up 119% Today?
Why Is Crown LNG (CGBS) Stock Up 65% Today?

On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.

Shineco Prices $2 Million Public Stock Offering; Shares Tumble in Premarket

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Why Is Shineco (SISI) Stock Down 54% Today?

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Shineco stock is falling hard on Friday after the agricultural produce company announced the pricing of a public offering for its shares.

This public offering has Shineco selling 1,869,160 shares of SISI stock for $1.07 each. The offering also includes a 45-day option for underwriters to acquire another 280,374 shares at the public offering price.

Shineco is expecting $2 million in gross proceeds from this public offering. The sole book-running manager for the offering is EF Hutton LLC.

How This Affects SISI Stock

A public offering increases the total number of outstanding shares on the market. Doing so also dilutes the stakes of current investors in the company. This is one of the reasons why shares of SISI stock are falling today.

On top of that, traders likely aren’t happy about the $1.07 price for shares in the offering. That’s below the prior closing price of $2.12 per share for SISI stock. It makes sense the stock would fall alongside this discounted public offering price.

SISI stock is down 53.8% as of Friday morning. However, the shares were up 76.7% year-to-date when markets closed on Thursday.

Investors who are seeking out even more of the most recent stock market stories will want to stick around!

We have all of the hottest stock market news that traders need to know about on Friday! A few examples include what’s going on with shares of Toyo T and Crown LNG C stock, as well as the biggest pre-market movers this morning. All of this info is ready at the following links!

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Shineco Announces Pricing Of $2 Million Underwritten Public Offering

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Today’s Biggest Pre-Market Stock Movers: 10 Top Gainers and Losers on Friday

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Pre-market stock movers are worth keeping an eye on and we have a breakdown of all the biggest ones to watch on Friday!

Moving stocks are mergers, clinical trial data, public offerings and more.

Let’s get into that news below!

Biggest Pre-Market Stock Movers: 10 Top Gainers

Crown LNG C stock is rocketing almost 154% after recently completing a business combination.
Toyo T shares are soaring close to 111% alongside heavy pre-market trading.
Sentage stock is surging over 60% with strong early morning trading.
Above Food Ingredients A shares are increasing more than 42% without any clear news this morning.
Monterey Capital Acquisition stock is gaining over 23% on Friday morning.
Maxeon Solar Technologies shares are rising more than 19% with heavy early morning trading.
Qualigen Therapeutics stock is heading nearly 16% higher with strong pre-market trading.
Immutep shares are climbing over 15% with positive clinical results.
Big Tree Cloud D stock is jumping more than 14% on Friday.
Instil Bio shares are up over 14% today.

10 Top Losers

Shineco stock is crashing more than 44% on a proposed public offering.
ASP Isotopes shares are diving over 19% as it also announces a proposed public offering.
Cyngn C stock is tumbling 18% following a massive rally yesterday.
Kazia Therapeutics shares are retreating more than 16% after rallying this week.
Nano Nuclear Energy N stock is taking an over 12% beating after pricing an upsized underwritten offering.
Biodexa Pharmaceuticals shares are falling more than 10% after jumping yesterday on clinical trial data.
Digital Brands Group stock is dropping over 10% this morning.
Sonoma Pharmaceuticals shares are decreasing more than 10% following a Thursday rally.
Forward Industries F stock is dipping 10% without any news to report.
Nuwellis N shares close out our pre-market stock movers down over 9% this morning.

Why Ericsson Shares Are Trading Higher; Here Are 20 Stocks Moving Premarket

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LM Ericsson Telephone

Shares of Telefonaktiebolaget LM Ericsson rose sharply in today's pre-market trading after the company reported better-than-expected second-quarter sales and issued guidance.

Ericsson reported a second-quarter loss of 31 cents per share, compared to year-ago earnings of 7 cents per share. The company reported quarterly sales of $5.59 billion which beat the analyst consensus estimate of $5.36 billion, according to data from Benzinga Pro.

Ericsson shares jumped 4.3% to $6.66 in pre-market trading.

Here are some other stocks moving in pre-market trading.

Gainers

Sentage Holdings Inc. rose 85.6% to $4.27 in pre-market trading after gaining around 5% on Thursday.
Tian Ruixiang Holdings Ltd T gained 40.4% to $3.16 in pre-market trading.
Qualigen Therapeutics, Inc. shares rose 36.7% to $0.2809 in pre-market trading.
AgriFORCE Growing Systems Ltd. shares rose 28.3% to $0.1053 in pre-market trading after gaining around 7% on Thursday.
Immutep Limited shares climbed 20.4% to $2.42 in pre-market trading after the company disclosed results for first-line treatment of head and neck squamous cell carcinoma patients with negative PD-L1 expression.
Maxeon Solar Technologies, Ltd. rose 14.8% to $0.2765 in pre-market trading. Maxeon Solar Technologies 13G filing showed Graham Capital Management LP reported a 9.6% passive stake in the company as of July 2.
AtlasClear Holdings, Inc. gained 11.3% to $0.8681 in pre-market trading after dipping over 20% on Thursday.
Gamer Pakistan Inc shares gained 9.6% to $0.22 in pre-market trading.
China SXT Pharmaceuticals, Inc. rose 9.2% to $1.30 in pre-market trading after jumping 10% on Thursday.

Losers

Shineco, Inc. shares fell 38.2% to $1.31 in pre-market trading after the company reported a proposed underwritten public offering.
ASP Isotopes Inc. shares declined 18.4% to $2.90 in pre-market trading after the company announced that it commenced an underwritten public offering.
Kazia Therapeutics Limited shares fell 18.4% to $1.01 in pre-market trading after jumping over 85% on Thursday. Kazia Therapeutics recently announced results from GBM-AGILE, a phase II/III study that included an evaluation of paxalisib versus standard of care for patients with glioblastoma.
New Horizon Aircraft Ltd shares fell 16.4% to $0.53 in pre-market trading after gaining around 20% on Thursday.
Luxurban Hotels Inc fell 13.4% to $0.16 in pre-market trading. LuxUrban Hotels priced its $5.1 million public offering of 30 million shares at $0.17 per share.
Lipella Pharmaceuticals Inc fell 13.4% to $0.46 in pre-market trading after gaining over 9% on Thursday.
Biodexa Pharmaceuticals Plc shares fell 12.3% to $0.9469 in pre-market trading. Biodexa Pharmaceuticals shares jumped around 52% on Thursday after the company reported 12-month Phase 2 trial results for eRapa in treating Familial Adenomatous Polyposis.
Sonoma Pharmaceuticals, Inc. shares dipped 12.3% to $0.3107 in pre-market trading after jumping 38% on Thursday.
Cyngn Inc. C shares fell 12.1% to $6.44 in pre-market trading after surging 85% on Thursday.
NANO Nuclear Energy Inc. N shares declined 9.8% to $23.64 in pre-market trading after gaining around 4% on Thursday.