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Why Is Aclarion (ACON) Stock Down 16% Today?
ACONAclarion(ACON) InvestorPlace·2024-01-29 14:17

Stock Issuance and Dilution - Aclarion issued 500,000 shares of ACON stock in exchange for 1,185,226ofprincipalandaccruedinterestonunsecurednon−convertiblenotes,increasingthetotalnumberofoutstandingsharesto1,791,375[1]−Thecompanymayenactsimilarexchangesinthefuturetocoverfinancingfromthosenotes[1]−Increasingthetotalnumberofsharesoftenresultsinastock′spricefallingduetodilutionofcurrentinvestors′stakes[1]ACONStockPerformance−ACONstockisdown15.51,185,226 of principal and accrued interest on unsecured non-convertible notes, increasing the total number of outstanding shares to 1,791,375 [1] - The company may enact similar exchanges in the future to cover financing from those notes [1] - Increasing the total number of shares often results in a stock's price falling due to dilution of current investors' stakes [1] ACON Stock Performance - ACON stock is down 15.5% as of Monday morning, with about 367,000 shares traded compared to the daily average trading volume of 1.2 million shares [2] - The stock was down 14.4% year-to-date as of Friday's close [2] Market Context - The article mentions other stocks such as SoFi Technologies (NASDAQ:SOFI), Panbela Therapeutics (NASDAQ:PBLA), and Revelation Biosciences (NASDAQ:REVB) as part of the broader stock market news [2] - InvestorPlace typically avoids publishing commentary on companies with a market cap of less than 100 million or trading less than 100,000 shares daily due to the risks associated with low-volume stocks [3]