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.
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