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PMGC Holdings Inc. (NASDAQ:ELAB) shares faced downward pressure Friday. The stock dropped roughly 3.42% to $5.08 by midday. This move follows a week of fluctuations and massive sell-offs.
The Nasdaq is up 0.06% while the S&P 500 has shed 0.09%.
• PMGC Holdings stock is feeling bearish pressure. Why is ELAB stock falling?
Equity Financing Facility Fully Utilized
The selling pressure intensified after the biopharmaceutical company confirmed it fully used its $20 million equity financing facility. PMGC utilized the full commitment under its purchase facility with Streeterville Capital, LLC. While this provides capital, it often sparks fears of increased share supply among retail traders.
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