Picard Medical Stock Plunge
Picard Medical stock experienced a significant drop of approximately 65% in premarket trading on Friday, falling from its recent 52-week high of $13.36.
The crash erased months of upward price momentum, during which the stock traded 131.6% above its 50-day Simple Moving Average.
- The drop is attributed to a regulatory filing detailing a massive expansion of the company's equity plan.
- A Form 8-K filed on Oct. 14 revealed stockholder approval for amending the 2021 Equity Incentive Plan, increasing available shares to 18,000,000 and adding warrants as a new award type.
The plan signals substantial future dilution that will devalue existing shareholder equity.
The stock plunge contradicts Picard Medical's recent positive updates on its core technology.
Author's summary: Picard Medical stock drops 65% due to equity plan expansion.
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