Calidi Biotherapeutics Inc ( CLDI ) shares are trading lower by 32% to 92 cents during Friday’s session after the company priced its public offering of 5 million shares of common stock at $0.85 per share, aiming to raise approximately $4.25 million in gross proceeds.

The offering is set to close on January 10, pending customary closing conditions. Ladenburg Thalmann & Co. Inc. is the exclusive placement agent for the transaction.

Calidi says the company plans to use the proceeds for working capital and general corporate purposes.

Read Also: Consumer Inflation Worries Highest Since 2008, U Of M Survey Says: Wall Street Tumbles To 2-Month Lows

Should I Sell My CLDI Stock?

Whether to sell or hold a stock largely depends on an investor's strategy and risk tolerance. Swing traders may sell an outperforming stock to lock in a capital gain, while long-term investors might ride out the turbulence in anticipation of further share price growth.

Similarly, traders willing to minimize losses may sell a stock that falls a certain percentage, while long-term investors may see this as an opportunity to buy more shares at a discounted price.

Shares of Calidi Biotherapeutics ( CLDI ) have lost 92.85% year to date. This compares to the average annual return of -76.04%, meaning the stock has underperformed its historical averages. Investors can compare a stock's movement to its historical performance to gauge whether this is a normal movement or a potential trading opportunity.

Investors may also consider market dynamics. The Relative Strength Index can be used to indicate whether a stock is overbought or oversold. Calidi Biotherapeutics ( CLDI ) stock currently has an RSI of 55.44, indicating neutral conditions.

For analysis tools, charting data and access to exclusive stock news, check out Benzinga PRO. Try it for free.

CLDI has a 52-week high of $16.80 and a 52-week low of $0.73.