WonderFi Technologies (OTCMKTS:WONDF) Stock Suddenly Falls 135: Here is Why

There were a number of stocks which ended up as laggards on Thursday and one of those was the WonderFi Technologies (OTCMKTS:WONDF) stock. The WonderFi stock ended the day with a decline of as much as 13% due to the selloff.

Trading Data

On Thursday, WONDF stock slumped 13% to $1.94 with more than 420k shares traded, compared to its average volume of 190k shares. The stock has moved within a range of $1.9026 – 2.3001 after opening trading at $2.25.

WonderFi Increases Previously Announced Bought Deal Public Offering to $45 Million

 However, it ought to be noted by investors that on Thursday the company also made a key announcement and it is something investors may look into. The company announced that it has decided to raise the size of its financing round that is going to be led by CanaccordGenuity and a consortium of other underwriters.

WonderFi announced that Canaccord and the group of underwriters reached an agreement by way of which it was going to pick up as many as 18.75 million units for $2.40 each on a bought deal basis. The company noted that it seeks to raise around C$45 million from the round of financing. While the announcement from the company was a significant one, it was not something that was welcomed by investors with any enthusiasm and there was a selloff. It now remains to be seen if there is a rebound in the WonderFi stock today.

Technical Data  

WONDF stock is above the 20-Day and 50-Day Moving averages of $1.88 and $1.88 respectively. Moreover, the stock is trading above the 20-Day moving average of $1.67.