Stock Track | PSQ Holdings Plunges 28.44% in Pre-market on $36.2 Million Stock Offering

Stock Track2024-12-04

PSQ Holdings Inc (PSQH) stock plunged 28.44% in pre-market trading on Wednesday, following a significant surge in the previous session.

The steep decline came after the company announced a $36.2 million registered direct offering of common stock. PSQ Holdings plans to sell 7,813,931 shares at $4.63 each, diluting existing shareholders' stakes and putting downward pressure on the stock price.

The share offering news appears to be the primary driver behind the pre-market plunge, as investors reacted negatively to the potential dilution and capital raise. The company has not provided further details on the intended use of the proceeds from the offering.

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