Why did govx drop so much Friday

GeoVax Labs' stock decline on Friday can be attributed to several factors:

1. **Securities Offering**: The company's announcement of a registered direct offering to sell 1.7 million shares priced below the market, along with the issuance of warrants to the investor, likely led to a decrease in the stock price. Such dilutionary actions are generally perceived negatively by the market, as they can lower the company's earnings per share and dilute the ownership stake of existing shareholders.
2. **Market Sentiment**: The overall market sentiment towards GeoVax Labs may have been bearish due to several factors:
- The company's stock had been volatile, with a significant increase on July 18, which could have led to a subsequent sell-off.
- The announcement of a failed trial by a rival company, Siga Technologies Inc., could have created a negative environment for companies in the same industry, potentially leading to a sell-off across the board.
3. **Earnings Estimates**: Analysts at Roth Capital decreased their Q3 2024 EPS estimates for GeoVax Labs, which could have contributed to the downward pressure on the stock price.