China Jo-Jo Drugstores Inc (NASDAQ:CJJD) shares are trading lower by 24% to $2.21 during Monday's session after the company announced a $1.53 million registered direct offering.

The company finalized agreements with multiple investors for a registered direct offering, issuing 0.9 million ordinary shares at $1.70 per share, totaling around $1.53 million in gross proceeds. The sale is set to close around April 30, pending standard closing conditions.

The company plans to utilize the net proceeds for general corporate needs and working capital.

Should I Sell My CJJD Stock?

When deciding to hold on to or sell a stock, investors should consider their time horizon, unrealized gains and total return.

Shares of China Jo-Jo Drugstores have decreased by 87.15% in the past year. An investor who bought shares of China Jo-Jo Drugstores at the beginning of the year would take a loss of $2.39 per share if they sold it today. The stock has fallen 31.79% over the past month, meaning an investor who bought shares on Mar. 1 would see a capital loss of $0.44.

China Jo-Jo Drugstores shares have an all-time high of $247.2, representing 11085.52% upside from current levels.

Investors may also consider market dynamics. The Relative Strength Index can be used to indicate whether a stock is overbought or oversold. China Jo-Jo Drugstores stock currently has an RSI of 38.72, indicating neutral conditions.

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CJJD has a 52-week high of $24.60 and a 52-week low of $1.95.