Last Week’s biggest losers: Guardion Health Sciences, Anghami, & Roku
Guardion Health Sciences Inc. (NASDAQ: GHSI) shares dropped 45.73% after the company announced the pricing of a public offering of 37 million common shares, Class A warrants to buy around 37 million common shares and Class B warrants to buy 37 million common stock shares. Before deducting offering expenses and placement fees, the total proceeds are approximately $11.1 million.
The company is offering the common share stock and associated Class A, and Class B warrant at $0.30. Class A warrants will be exercisable at $0.37 per share and have an expiry of five years from the date of issuance. Also, the Class B warrants are exercisable at $0.37 per share with the expiry of eighteen months from the day of issuance. Guardion expects to close the offering on February 23, 2022, subject to waiver or satisfaction of customary closing conditions.
Anghami Inc. (NASDAQ: ANGH) shares gained almost 161.36% on Thursday, but on Friday, February 18, 2022, the stock had lost 43.42% of those gains in premarket trading. In the previous session on Thursday, the stock hit record highs of $33.13 and closed at $28.88 at a shares volume of 20.4 million. However, following the massive surge, the stock lost gains to $26.3 under corrections. The Abu Dhabi-headquartered music streaming company has 31.5 million outstanding shares and a market cap of $348.08 million.
The company started trading on the Nasdaq market at the beginning of this month, and since then, it has been highly volatile with sudden huge gains and losses. This high volatility is a result of its small outstanding shares number, which makes ANGH susceptible to price swings. There is no explanation for the stock’s sudden bursts of gains and losses since no SEC filings or news are reported. Following the Thursday surge, the stock was subject to corrections hence the decline on Friday.
Roku Inc. (NASDAQ: ROKU) shares lost 22.29% on Friday, February 18, 2022, as investors seemed unimpressed by the company’s Q4 and full-year 2021 results released on Thursday. The media and ad company released mixed earnings and revenue results with supply constraints weighing on the stock.
The company had revenue of $865 million in Q4 2021, a 33% YoY increase but missed analysts projected revenue of $894 million. Roku cited supply chain constraints and high costs of semiconductors which impacted player revenue by 95 compared to a year before. However, platform revenue was up 495 during that period. Earnings were $0.17 per share beating analyst predictions of $0.07 per share but below the $0.49 reported last year. The company had revenue of $2.76 billion for the full year, up 55% YoY, missing estimates of $2.79 billion. Net income of $1.71 per share topped $1.6 per share estimates.