Indeed it is dilution, however all public companies do this. PPS will often drop in the short term, it just hurts to see it. If they didn't just release such a promising Q3 report I would be worried.
Everyone keep in mind that on the report they mentioned new products that are in development, this very well could be related to that. I personally took the opportunity to load some shares, and I expect a rebound, not to mention a promising future that I still believe is ahead.
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