Dragonfly Energy shares fall 30.36% intraday as company launches stock offering, reveals debt repayment plans and faces technical sell-off after 57.6% rally.

Dragonfly Energy Holdings Corp. dropped 30.36% intraday, as the company announced a public offering of common shares and pre-funded warrants, potentially increasing equity dilution risk. The proceeds will be used to prepay $45 million in debt, highlighting financial pressures. The stock had risen 57.60% over the past five trading days, triggering a technical correction due to excessive short-term gains.