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Why DBV Technologies Stock Is Plunging Today

TheMotleyFool

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Why DBV Technologies Stock Is Plunging TodayPhoto, wide shot, wide-angle lens, Home decor store, Midday, harsh overhead sunlight, directional sunlightt, photo by Marc Adamus: https://img.theapi.app/temp/1f534af1-8f1f-47f4-aa9f-66269ecafb79.png

DBV Technologies S.A. (NASDAQ: DBVT), a clinical-stage food allergy company, is having a tough go of it today. The company's shares are down by a hefty 13.3% on over six times the average daily volume, as of 11:39 a.m. EST.

What's causing investors to run for the exits this morning? Before the opening bell, DBV Technologies announced a sizable global offering of its stock. The offering will reportedly yield gross proceeds of $153.7 million for the company upon closing. DBV Technologies said that the offering should close on Feb. 4, 2020.

Image Source: Getty Images.

Source Fool.com

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