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News

Why Azitra (AZTR) Shares Are Down 29% Today

Author: Henry Khederian | July 02, 2024 11:58am

Azitra Inc (NASDAQ:AZTR) shares are trading lower by 29% to $2.41 during Tuesday’s session after the company announced a mixed shelf offering of up to $50 million. The company says these securities can be sold directly, through agents or via underwriters and dealers.

Additionally, up to 217,082 shares of common stock, including 211,470 shares and 5,612 shares from warrant exercises, may be resold by identified stockholders. These sales can occur through various methods and Azitra will not benefit financially from these transactions, although it will cover related expenses.

Read Also: Tesla Deliveries Fall For Second Straight Quarter, But Stock Takes Off As Q2 Numbers Exceed Expectations

Should I Sell My AZTR Stock?

Whether to sell or hold a stock largely depends on an investor's strategy and risk tolerance. Swing traders may sell an outperforming stock to lock in a capital gain, while long-term investors might ride out the turbulence in anticipation of further share price growth.

Similarly, traders willing to minimize losses may sell a stock that falls a certain percentage, while long-term investors may see this as an opportunity to buy more shares at a discounted price.

Investors may also consider market dynamics. The Relative Strength Index can be used to indicate whether a stock is overbought or oversold. Anitra stock currently has an RSI of 37.83, indicating neutral conditions.

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AZTR has a 52-week high of $129.80 and a 52-week low of $2.39.

Posted In: AZTR