Why Netcapital Stock Is Getting Hammered

Netcapital Inc NCPL shares are trading lower by 29.50% to $1.55 Wednesday morning after the company announced pricing of a public offering.

All of the shares of common stock are to be sold by Netcapital. The company intends to use the net proceeds from the offering primarily for general corporate purposes, capital expenditures, working capital and general and administrative expenses.

See Also: Why Delta Airlines Stock Is Flying High Today: 'Demand For Air Travel Remains Robust'

According to data from Benzinga Pro, NCPL has a 52-week high of $15.00 and a 52-week low of $1.15.