dead cat bounce can’t be ruled out
Pananalapi dead cat bounce hindi maaring ilabas 18 minuto ang nakalipas Balita ng Ethereum ng Bitcoin Ocugen (NASDAQ: OCGN) stock price plunged hard on Wednesday after the company unveiled more plans to dilute shareholders. The penny stock retreated to a low of $0.440, the lowest point since 2020. In all, the shares have plunged by over 99% from the highest level during the pandemic. Bankruptcy cannot be ruled out Ocugen, a small biotech company that develops and commercializes therapies and vaccines, announced that it will raise capital. It will do that by having a public offering of 30 million shares valued at $16.5 million. It also offered a 30-day option to purchase up to 4.5 million additional shares. The company hopes to use these funds for general purposes, capital expenditure, working capital, and general purposes. Historically, investors tend to sell shares when a company announces plans to raise capital by selling shares. Still, Ocugens capital raise was inevitable since the firm has been burning cash. The most recent financial results showed that its cash and short-term investments came in at $76.7 million, down from the previous $90 million. Its net loss came in at $79.8 million. Therefore, since the company is not making any revenue, it was only