Richtech Robotics' stock experienced a significant intraday plummet of 11.34% on Wednesday, reflecting intense selling pressure during the trading session.
The sharp decline is primarily attributed to investor concerns over shareholder dilution following the company's announcement of a $38.7 million private placement priced at-the-market under Nasdaq rules. Such equity offerings typically raise fears about dilution, as the issuance of new shares increases the total outstanding share count, which can exert downward pressure on the stock price.
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