MoSys Inc. (NASDAQ:MOSY) Stock is In Downtrend: A Good Opportunity Now?
MoSys Inc. (NASDAQ:MOSY) dropped 12% in the last session, and over the past month, the stock is down 32%. The company deals with the provision of IP solutions and semiconductors, enabling intelligent data and fast access for networking, cloud, communication, and security solutions.
Recently the company announced closed the previously announced at-the-market registered direct offering in which the company offered around 1.818 million common shares at $7.15 per share. The offering’s net proceeds were around $12 million after subtracting agent placement fees and offering expenses.
The company is planning to use the direct offering’s net proceeds for general corporate purposes and working capital. The amount will help the company advance its R&D, sales and marketing, capital expenditures, and further its corporate strategy.
Part of the corporate strategy might include acquiring or investing in technologies or businesses or other strategic initiatives that may facilitate long-term growth, increase revenue and boost its products and technology offerings. So, in the coming weeks, MOSY is a stock to watch.
Market Reaction:
On Tuesday, MOSY stock slumped 11.70% at $4.69 with more 597k shares, compared to its average volume of 6.74 million shares. The stock had moved within a range of $4.5600 – 5.2800 after opening the trade at $5.25. Over the past 52-week, the stock has been trading within a range of $1.3200 – 10.7500.
