Why Is Greenwave Technology Solutions (GWAV) Stock Down 47% Today?

Greenwave Technology Solutions (NASDAQ:GWAV) stock is taking a beating on Tuesday after the metal recycling company announced a direct offering and private placement.Greenwave Technology Solutions has entered into a securities purchase agreement with certain institutional and accredited investors. This has it selling 45,058,612 shares of GWAV stock for $0.1167 each.The direct offering has Greenwave Technology Solutions expecting gross proceeds of $5,258,340 alongside its private placement. It’s also worth m ...