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ReShape Lifesciences Stock Plummets 45% Following Public Offering Announcement
ReShape Lifesciences Stock Plummets 45% Following Public Offering Announcement
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ReShape Lifesciences (RSLS) shares cratered 44.26% on Monday after pricing a $2.6 million equity offering at a steep 40% discount. The medical device company set its public offering price at $2.50 per share - a dramatic markdown from Friday's $4.18 close. Market participants reacted swiftly to the dilutive effect of issuing 1.05 million new shares.
The offering compounds a brutal year for RSLS investors, with year-to-date losses now approaching 98%. TipRanks' AI analyst Spark maintains an Underperform rating, citing persistent cash burn and negative equity. While Wall Street coverage remains sparse, the algorithm flags fundamental weaknesses including unsustainable financials and liquidity constraints.
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