price up icon2.15%   +0.04
after-market  After Hours:  1.89  -0.01   -0.53%

Why is POET Technologies Inc (POET) Stock down?

We've noticed a 11.17% decline in POET Technologies Inc (POET) stock during the 2024-05-24 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!
30 Nov, 2023:

Shares of POET Technologies Inc (POET) dropped by 21.43% from $1.12 to $0.88 in the trading on Thursday, November 30, 2023. The reason why POET is down today is due to the company's announcement of a $1.4 million underwritten public offering of common shares and warrants. This offering consists of 1,600,000 common shares and accompanying warrants, with each warrant exercisable at $1.12 per common share for five years. The funds raised will be used for general working capital purposes, including expanding revenue and developing photonic modules for AI and related markets. The offering is expected to close around December 4, 2023.

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