Tron Stock Drops 4% to New Low After Filing $200M Offering

TLDR Tron (TRON) filed for a $200 million at-the-market offering, with Clear Street acting as agent for a commission of up to 3%. The stock fell about 4% on Thursday to a new 52-week low of $1.115, and has lost roughly 67% over 12 months. Tron holds 718.9 million TRX tokens worth about $237 million after buying 149,369 TRX at $0.3347. MarketBeat lists an average analyst rating of “Sell,” and Wall Street Zen cut the stock to “sell” in August. Last quarter, Tron reported revenue of $1.57 million and earnings of $0.01 per share.

Source: CoinCentral