Nextleaf Solutions Ltd (OTCMKTS:OILFF) is one of the few cannabis oil producers which is federally regulated and is currently best known for its Glacial Gold brand. In the past week, the Nextleaf stock has not performed well and has suffered from a sustained selloff that saw the stock recording a decline of as much as 13% during the period.
Trading Data
On Tuesday, OILFF stock fell 0.10% to $0.1521 with more than 186k shares, compared to its average volume of 160K shares. The stock has moved within a range of $0.1512 – 0.1615 after opening trading at $0.1615.
Nextleaf Solutions Announces $3 Million Marketed Public Offering of Units
In this situation, it may be important for investors to perhaps figure out if the decline could in fact be an opportunity or not. Yesterday, the company announced that it had signed a new engagement letter with the firm Research Capital Corporation with regards to a marketed public offering.
As part of this particular offering, the company is going to offer units in Nextleaf that is going to have an aggregate gross valuation of at least $3,000,000. It was also noted that the agents has agreed to work as the solitary book runner for the whole thing. An announcement of this nature can often lead to pessimism among investors due to fears of dilution. Hence, it may be a good idea to keep an eye on the developments on this front before making any move.
Technical Data
On Tuesday, OILFF stock fell 0.10% to $0.1521 with more than 186k shares, compared to its average volume of 160K shares. The stock has moved within a range of $0.1512 – 0.1615 after opening trading at $0.1615.
