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0.5499
4.62%
-0.0175
After Hours:
.55
0.000100
+0.02%
Why is Abvc Biopharma Inc (ABVC) Stock down?
We've noticed a 6.59% decline in Abvc Biopharma Inc (ABVC) stock during the 2024-11-21 trading session. While this could be attributed to normal volatility or various internal and external factors, please be aware that we are actively monitoring the situation, and we'll provide timely updates as soon as possible!
27 Nov, 2023:
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.
0.93%
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