Blue Hat Interactive (BHAT)

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Why Is Blue Hat (BHAT) Stock Up 345% Today?

BHAT has terminated its proposed public stock offering


13h ago · By William White, InvestorPlace Writer

Blue Hat (BHAT) is rocketing after canceling public stock offering plans.
This means traders won't see their stakes in the company diluted.
Heavy trading is pushing Blue Hat's shares higher today.
industrial factory chief engineer wearing AR headset representing BHAT stock.
Source: Gorodenkoff / Shutterstock
Blue Hat (NASDAQ:BHAT) stock is rocketing higher on Thursday after the company announced plans to shelve a public stock offering.

Blue Hat was previously planning to sell shares and warrants of its stock in an effort to raise funds. However, the company is backing down from this plan. The company also says it hasn’t sold any securities as part of the proposed offering.

The positive movement for BHAT stock today likely has to do with traders celebrating the decision. Without a public stock offering, shareholders in the stock aren’t going to see their stake in the company diluted.

To go along with this news, shares of BHAT stock are seeing incredibly heavy trading today. As of this writing, a massive 151 million shares of the stock have changed hands. That’s an amazing jump compared to the company’s daily average trading volume of only about 263,000 shares.

BHAT stock is up 345% as of Thursday afternoon.

However, the stock is still currently down 24% since the start of the year.

https://investorplace.com/2022/06/why-is-blue-hat-bhat-stock-up-345-today/