Why Castor Maritime Stock Crashed Today

1 min read

Shares of Castor Maritime (NASDAQ: CTRM) plunged on Monday after the shipping company announced the pricing of its latest stock offering. As of 2:10 p.m. EDT, its stock price was down 20%.

Castor Maritime will sell roughly 192.3 million shares to institutional investors at a price of $0.65 per share. The offering will raise about $125 million, before transaction-related expenses. The stock sale is expected to close on Wednesday.

Castor Maritime’s stock price fell sharply on Monday. Image source: Getty Images.

Continue reading

Leave a Reply

Your email address will not be published.

Previous Story

Why EHang Holdings Stock Plummeted 20.1% in March

Next Story

Why Leaf Group Stock Soared Today

Latest from Blog