Why BioSig Technologies (BSGM) Shares Are Falling

BioSig Technologies Inc (NASDAQ:BSGM) shares are trading lower by 17% to $1.99 during Thursday’s session after the company announced a $3 million registered direct offering of 1,570,683 shares at $1.91 per share.

Additionally, in a concurrent private placement, BioSig will issue unregistered warrants to purchase an equal number of shares at $1.78 per share. The warrants are immediately exercisable and will expire in five years. The total gross proceeds from the offering are expected to be around $3 million, to be used for working capital and general corporate purposes.

H.C. Wainwright & Co. is the exclusive placement agent, and the offering is expected to close around May 30, 2024, pending customary conditions.

See Also: US Q1 Economic Growth Downwardly Revised To 1.3%: Consumer Spending Falters

Should I Sell My BSGM Stock?

Whether to sell or hold a stock largely depends on an investor's strategy and risk tolerance. Swing traders may sell an outperforming stock to lock in a capital gain, while long-term investors might ride out the turbulence in anticipation of further share price growth.

Similarly, traders willing to minimize losses may sell a stock that falls a certain percentage, while long-term investors may see this as an opportunity to buy more shares at a discounted price.

Shares of BioSig Technologies have lost 86.22% year to date. This compares to the average annual return of -60.62%, meaning the stock has underperformed its historical averages. Investors can compare a stock's movement to its historical performance to gauge whether this is a normal movement or a potential trading opportunity.

Investors may also consider market dynamics. The Relative Strength Index can be used to indicate whether a stock is overbought or oversold. BioSig Technologies stock currently has an RSI of 86.25, indicating overbought conditions.

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BSGM has a 52-week high of $16.40 and a 52-week low of $0.26.