Why did apvo stock go down?

Aptevo Therapeutics' (APVO) stock decline can be attributed to several factors: 1. **Public Offering and Dilution**: Aptevo Therapeutics sold 3.4 million shares of its common stock at a price of $1.35 per share, accompanied by warrants to purchase another 6.8 million shares. This significant increase in the number of outstanding shares dilutes the stakes of current investors, which is a primary reason for the share price fall. 2. **Offering Price Discount**: The offering price of $1.35 per share was a significant discount over the prior closing price of $2.40 per share, which further contributed to the stock's decline. 3. **Investor Sentiment**: The public offering and the dilution of shares likely affected investor sentiment, leading to a loss of confidence in the stock. 4. **Market Reaction**: The stock experienced a heavy trading volume, with more than 3.8 million shares traded, compared to the stock's 100-day average of slightly more than 138,000 shares. This increased trading activity suggests a negative market reaction to the news. 5. **