Hey yall, been a while since I’ve been into the stock game. Noticed something with $IOVA. I saw that they got FDA approval for their drug as well as their stock offering, yet it is still going up despite the offering being currently about $6 less than current stock price.
My question is, wouldn’t the issuance of the additional 23 million shares dilute the current shares to closer to $13/share? Granted I am not naive to the fact people could still be bullish on it for the FDA approval, but is it still seriously just that strong of a market?
Any explanation is appreciated, and if it is as simple as “because people think it’s worth more” then just disregard.
Thank you!
*do not have position in, re-familiarizing myself before getting into any of these highly volatile stocks
