Abvc Biopharma Inc (ABVC)

Shares of ABVC Biopharma (ABVC) dropped by 16.83% from $2.02 to $1.68 in the trading on Monday, November 27, 2023. The reason why ABVC is down today is due to news regarding the company's entry into a convertible agreement and subsequent dilution as of November 27, 2023, based on new shareholders. In this agreement, ABVC BioPharma issued a $1.2 million convertible note to Lind Global Fund II, LP, with a conversion price set at $3.50 per share. This issuance of convertible notes can lead to potential dilution of existing shares, which often exerts downward pressure on the stock price. This news likely contributed to the notable decrease in ABVC's stock price.