Why Is Akoustis Technologies (AKTS) Stock Down 33% Today?

Group 1 - Akoustis Technologies announced a proposed public share offering, which has led to a decline in its stock price [1] - The company intends to sell shares through an underwritten public offering but has not disclosed the pricing or the number of shares [1] - Roth Capital Partners is the sole manager for the stock offering and the company plans to grant the underwriter a 30-day option to acquire additional shares [1] Group 2 - The public offering will increase the total number of outstanding shares, diluting the stakes of current investors, contributing to the stock's decline [2] - Public offerings are typically priced below the current stock value, which is likely to be the case for AKTS, further impacting the stock price negatively [2] - As of Thursday morning, AKTS stock is down 33.3% with approximately 163,000 shares traded, compared to a daily average trading volume of about 678,000 shares [2]