In the past week, the Statera Biopharma (NASDAQ:STAB) stock has declined sharply amidst a heavy selloff and dived by as much as 45%. Considering the sheer magnitude of the decline in the Statera stock, it may be a good idea for investors to perhaps figure out if the free fall is going to continue or if there is going to be any recovery any time soon.
Trading Data
On Thursday, STAB stock moved up 0.91% to $0.3451 with more than 6.89 million shares, compared to its average volume of 1.31 million shares. The stock moved within a range of $0.3400 – 0.3570 after opening trade at $0.35.
Statera Biopharma slips on pricing ~$5.7M stock offering
In order to figure that out, it may be important to take a look at the development from earlier on this week. On March 22 the company announced that the pricing of the stock offering worth around $5.7 million was going to be $0.45 a unit.
In the aforementioned offering, the company was going to offer around 10.84 million units and in addition to that, Statera announced that it was also going to offer around 1.72 million pre-funded units for $0.44 each. However, the announcement with regards to the pricing had a negative effect on the Statera stock and investors soon headed for the exits in a big way.
It is now going to be interesting to see if the stock can make a recovery any time soon or not.
Technical Data
STAB stock is trading below the 20-Day and 50-Day Moving averages of $0.63 and $1.01 respectively. Moreover, the stock is trading below the 200-Day moving average of $2.87.
