Business
Why is the Weebit Nano (ASX:WBT) share price dropping 7% today?
Computer memory designer Weebit Nano Ltd (ASX: WBT) share price has retreated 7.27% today, paring back gains of more than 30% in November. Investors have bought Weebit Nano shares this month amid optimism around the company’s potential commercialisation of memory technology next year.
At the time of writing, the Weebit Nano share price has dropped lower to $1.85.
Weebit Nano’s recent capital raising
Weebit Nano has progressed efforts recently to take its latest memory chip technology to market.
On 20 November, the company announced it had raised $12 million for commercialisation and to accelerate research and development of its ReRAM technology. The money will be used to strengthen its sales team and increase marketing…
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