SEALSQ Corp (LAES) saw a significant decline in its stock price on December 13, 2024, closing at $1.75, down 5.41% from the previous day's close of $1.85. The stock opened at $1.60 and experienced high volatility, reaching a low of $1.48 and a high of $1.89, with trading volume surging to 62,085,452 shares, over six times the average. The downturn was primarily driven by the announcement of a public offering of 7.69 million shares priced at $1.30 each, intended to raise $10 million. This offering, set to close on December 16, 2024, is aimed at advancing SEALSQ's post-quantum semiconductor technology and ASIC capabilities in the U.S. However, the offering price below the previous closing price raised concerns about shareholder dilution, contributing to the stock's decline.
Despite recent positive momentum from partnerships, such as with IC’ALPS for quantum-resistant chips, investor sentiment was negatively impacted by the offering. Discussions on platforms like Reddit highlighted skepticism about the company's frequent news releases and the authenticity of its growth narrative. Retail interest in SEALSQ surged, with a notable increase in message activity and user tracking, reflecting heightened investor attention amid the volatility.