Nocera is trading 6.9% down today at $1.48 after filing a registration statement for the resale of up to 7.5 million shares by selling stockholders.
- The filing follows a 1-for-30 reverse stock split completed earlier in July, which had significantly reduced the company's share float.
- The prospect of substantial additional supply hitting the market is heightening dilution fears among investors, putting downward pressure on the share price.