Why Elevai Labs (ELAB) Stock Is Down 60% Today

Elevai Labs Inc ELAB shares are trading lower by 60% to 11 cents during Monday’s session after the company announced the pricing of an $8.0 million public offering.

What Else: The offering consists of 28.57 million shares of common stock or pre-funded warrants, each sold with one Series A Warrant and one Series B Warrant, both exercisable at $0.38 per share.

The Series A Warrants will expire five years after the Initial Exercise Date, while Series B Warrants will expire in 2.5 years. Proceeds will support corporate purposes like working capital.

The offering is expected to close around September 24, 2024, pending standard conditions.

Read Also: Chinese Vehicle Tech Faces Biden Administration Ban Over National Security Concerns

Should I Sell My ELAB 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.

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ELAB has a 52-week high of $4.24 and a 52-week low of $0.11.