What's causing Ontrak's stock to drop 13% pre-market today?

Ontrak's stock experienced a significant drop of 13.2% in pre-market trading on June 30, 2025, which can be attributed to the following factors:

1. Public Offering News: Ontrak announced the pricing of a $4 million public offering, which included a warrant package. Such a significant financing move can lead to a dilution of existing shares and can be perceived negatively by the market, as it might indicate the company's urgency for capital and could put downward pressure on the stock price.
2. Financial Instability and Technical Challenges: Ontrak's stock score is primarily impacted by severe financial and technical challenges. The company's financial instability, bearish technical indicators, and distressing valuation metrics are the most significant factors. Earnings call insights show some strategic progress but are insufficient to offset the overall negative outlook.

In conclusion, Ontrak's pre-market stock drop is likely a result of a combination of the public offering news and financial instability and technical challenges.