- Tantech shares dip although the Chinese government supports Ukraine’s territorial integrity
- The company offers $10 million common stock to the public today
- Will the stock grow again?
China’s government just supported Ukraine’s territorial integrity by resulting in a drastic push of its stocks to recover after they were hit by PRC’s official statement of supporting Russia in military and financial. However, Tantech (Nasdaq: TANH), a charcoal products manufacturer is being pulled down by 69% to $0.4960 on 17 million shares.
Perhaps, offering a common stock worth $10 million and pre-funded warrants to the public is affecting the current decline of TANH shares. Sometimes the huge supply of shares pulls the price down to its record lows.
Fortunately, offering new shares is not really bad news. The stock may recover soon if enough long-term buyers keep the majority of shares. No need to worry now, it can slowly grow this year.