Why Tharimmune (THAR) Shares Are Getting Hammered

Tharimmune Inc THAR shares are trading lower by 30% to $3.60 during Monday’s session. The company late Friday announced it had entered into an “at the market” offering agreement with Rodman & Renshaw LLC for the sale of up to $1.65 million worth of its common stock through the sales agent.

The stock is listed on Nasdaq under the symbol “THAR,” with a last reported price of $5.17 per share on June 5, 2024. The sales agent will sell shares using commercially reasonable efforts and is entitled to a 3% commission on the gross proceeds. They may also purchase shares as a principal under separately negotiated terms.

As a smaller reporting and emerging growth company, the company benefits from reduced public disclosure standards. The aggregate market value of its common stock held by non-affiliates is approximately $5.1 million, based on 786,031 outstanding shares.

According to regulatory limits, the company cannot sell securities exceeding one-third of this value in a 12-month period, provided the aggregate market value remains under $75 million. No shares have been sold under these terms in the past 12 months.

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Should I Sell My THAR 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.

Shares of Tharimmune have lost 97.58% year to date. This compares to the average annual return of -84.15%, meaning the stock has underperformed its historical averages. Investors can compare a stock's movement to its historical performance to gauge whether this is a normal movement or a potential trading opportunity.

Investors may also consider market dynamics. The Relative Strength Index can be used to indicate whether a stock is overbought or oversold. Tharimmune stock currently has an RSI of 73.95, indicating overbought conditions.

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THAR has a 52-week high of $142.50 and a 52-week low of $3.50.