$LGCL has fallen from $40 to $0.85.
Today, it suddenly saw a trading volume of 41 million shares and surged 15%.
Holdings are highly concentrated at the bottom, and selling pressure is virtually non-existent.
Once the rally kicks off, it has the potential to double in price.
$LGCL LGCL reports a financing shift: the ATM Offering Program is terminated and the proposed public offering is discontinued, preserving flexibility while aiming to reduce near-term dilution. The aggregate offering price under the ATM remains capped at US$20.0 million, and no securities have been issued under either program. The company cites market conditions and capital planning priorities, signaling a prudent path to evaluate financing alternatives and support long-term growth. While near-term liquidity options may be constrained, the reduction in dilution risk for existing shareholders is a positive at this juncture.