Why Syra Health Stock Is Down 50% Today

Syra Health Corp SYRA shares are trading lower by 52.5% at 38 cents Thursday morning after the company priced a $2.1 million public offering.

What Happened: Syra Health announced the pricing of a public offering of 3,203,125 shares of its Class A common stock, along with Series A and Series B warrants to purchase an equal number of shares, at $0.64 per share.

The Series Warrants have an exercise price of $0.64 per share, with Series A warrants expiring in 18 months and Series B in five years.

The offering, expected to close around September 13, 2024, aims to raise $2.1 million in gross proceeds, with potential additional proceeds of $4.1 million if all warrants are exercised.

Funds will be used for marketing, sales, research, development and general corporate purposes.

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Should I Sell My SYRA Stock?

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

Shares of Syra Health have decreased by 73.33% in the past year. An investor who bought shares of Syra Health at the beginning of the year would take a loss of $0.29 per share if they sold it today. The stock has fallen 39.39% over the past month, meaning an investor who bought shares on Aug. 1 would see a capital loss of $0.52.

Syra Health shares have an all-time high of $4.85, representing 506.17% upside from current levels.

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SYRA has a 52-week high of $8.37 and a 52-week low of $0.80.