🔴 Xos Inc is trading 5.3% down today as it extends a pullback following a dilutive equity offering

Xos Inc is trading at $3.75 (5.3% down) in pre-market, extending a sharp pullback after last week’s extreme rally.

• Shares have been sliding since a more than 200% spike tied to the launch of its new 2.5MWh Power Hub data-center energy solution.
• The stock has recently fallen back below its $5.50 registered direct equity offering price.
• Today’s pre-market weakness appears to continue post-offering digestion and profit-taking.