Ascent Solar Technologies (NASDAQ:ASTI) stock is falling on Wednesday after the solar technology company launched a public offering for its shares.
The company filed the Notice of Effectiveness for this public offering after markets closed on Tuesday. However, it hasn’t provided a press release or additional filing revealing the details of the offering.
That means we can only operate off of its assumed plans in the proposed offering filing. This has it expecting to offer a total of 40 million shares priced at $0.314 each. This has it expecting to raise $6 million from the offering.
What This Means for ASTI Stock
A public offering increases the total number of outstanding shares on the market. One effect of this is the dilution of shareholder’s stakes in the company. This is likely part of the reason that ASTI stock is falling today.
It’s also not uncommon to see the price of a company’s stock fall alongside its public offerings. Typically this is the result of the company’s pricing of shares in the offering. Since we don’t know the price of the shares in this offering yet, it’s unclear if that’s the cause.
ASTI stock is down 49% as of Wednesday morning. The stock was also down 67.6% year-to-date when markets closed on Tuesday.
Investors looking for more of the most recent stock market stories are in luck!
We have all of the hottest stock market stories that traders need to know about on Wednesday! A few examples include why shares of iCoreConnect (NASDAQ:ICCT) and Marin Software (NASDAQ:MRIN) stock are up today, the biggest pre-market stock movers this morning and more. All of this news is ready to go at the links below!
More Wednesday Stock Market News
- Why Is iCoreConnect (ICCT) Stock Up 21% Today?
- Why Is Marin Software (MRIN) Stock Up 62% Today?
- Today’s Biggest Pre-Market Stock Movers: 10 Top Gainers and Losers on Wednesday
On Penny Stocks and Low-Volume Stocks: With only the rarest exceptions, InvestorPlace does not publish commentary about companies that have a market cap of less than $100 million or trade less than 100,000 shares each day. That’s because these “penny stocks” are frequently the playground for scam artists and market manipulators. If we ever do publish commentary on a low-volume stock that may be affected by our commentary, we demand that InvestorPlace.com’s writers disclose this fact and warn readers of the risks.
Read More: Penny Stocks — How to Profit Without Getting Scammed
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.
