Stock Track | Bitdeer Technologies Plunges 6.35% in Pre-Market on Share Offering Announcement
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Bitdeer Technologies Group's stock experienced a pre-market plunge of 6.35% following the company's announcement of a proposed registered direct offering of its Class A ordinary shares.
The company stated that the proceeds from the offering are intended to fund the expansion of its datacenter and AI cloud capabilities. Such equity offerings often lead to investor concerns over share dilution, which can exert immediate downward pressure on the stock price as the market anticipates an increase in the number of shares outstanding.
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