Why Hyzon Motors (HYZN) Stock Is Getting Hammered

Hyzon Motors Inc HYZN shares are trading lower by 49.7% to $0.14 during Friday’s session after the company announced a securities purchase agreement with institutional investors to sell 22.5 million shares of its Class A Common Stock and accompanying warrants.

The combined offering price is $0.20 per share and warrant, with the warrants exercisable at $0.30 per share and expiring in five years. The closing is expected around July 22. Hyzon plans to use the approximately $4.5 million gross proceeds for working capital and general corporate purposes.

Roth Capital Partners is the exclusive placement agent for the offering.

Read Also: CrowdStrike Shares Trim Heavy Losses As Microsoft Announces Resolution Of Global Tech Outage

Should I Sell My HYZN Stock?

When deciding to hold on to or sell a stock, investors should consider their time horizon, unrealized gains and total return.

Shares of Hyzon Motors have decreased by 90.64% in the past year. An investor who bought shares of Hyzon Motors at the beginning of the year would take a loss of $0.69 per share if they sold it today. The stock has fallen 60.32% over the past month, meaning an investor who bought shares on Jun. 1 would see a capital loss of $0.42.

Investors may also consider market dynamics. The Relative Strength Index can be used to indicate whether a stock is overbought or oversold. Hyzon Motors stock currently has an RSI of 27.46, indicating oversold conditions.

For access to advanced charting and analysis tools and stock data, check out Benzinga PRO. Try it for free.