From IPO Low To Market High To 65% Drop: Volatile Picard Medical Stock Ends Bull Run

Picard Medical, Inc. (NYSE:PMI) stock plunged approximately 65% in premarket trading on Friday, collapsing from its recent 52-week high of $13.36.

The crash erased months of “tremendous upward price momentum,” during which the stock traded 131.6% above its 50-day Simple Moving Average.

The drop is widely attributed to a regulatory filing detailing a massive expansion of the company’s equity plan.

Also Read: ClearPoint Neuro Shares Are Trading Higher Wednesday: What’s Going On?

Equity Dilution Concerns

The likely catalyst is the Form 8-K filed Oct. 14, detailing stockholder approval for amending the 2021 Equity Incentive Plan. The plan significantly increased available shares to 18,000,000 and added warrants as a new award type, signaling substantial future dilution that will devalue existing shareholder equity.

The stock plunge contradicts Picard Medical’s recent positive updates on its core technology. On September 22, 2025, the company secured U.S. Patent No. 12,383,722 B2 for its “Emperor” next-generation artificial heart, alongside a China patent.

This boosts its IP to 34 patented U.S. claims. CEO Patrick NJ Schnegelsberg noted the patent portfolio “secures the path from development to commercialization” for the TAH platform.

Financial Volatility Context

The preceding trading period was marked by extreme volatility: the stock went from its all-time low of $4.19 when it IPO’d on Aug. 29, to its peak of $13.36 one day before the current crash.

This run-up saw PMI reach an RSI of 63.25 on October 23, signaling it was nearing overbought territory just prior to the correction.

Price Action: PMI shares are trading 65.68% lower at $4.53 premarket at the last check on Friday.

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