Why is wena down all of a sudden.

The recent decline in ANEW MEDICAL, INC. (WENA) stock price can be attributed to the market's reaction to a proposed public offering by the company. Taysha Gene Therapies (TSHA) and GRI Bio (GRI) have also experienced similar drops in their stock prices due to similar reasons. Public offerings typically lead to an increase in the number of outstanding shares, which can dilute the stakes of current shareholders and lower the stock's trading price. Additionally, the pricing of the offering is often set below the current market value, which further affects the stock's value. The market anticipates this discount, leading to a decline in stock prices before the offering is completed. This phenomenon is a common occurrence in the stock market and is not specific to WENA.