Every penny stock in existence has diluted. That's how they pay their bills while they work to become solvent and all of them do it when needed. The important thing to look at is what they do with that cash, and SNDY appears to have been fairly decent about where they put the money from selling shares.
Besides, I just said that they increased the OS, but not by an amount that would make a dent. Who knows how many shares fell into the float...until they report updated numbers on that, we can only guess. Red on lower volume usually means good things for the chart...just look at that RSI...
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