TOYO Stock Crashes More Than 37%, Cracks Below 200-DMA For The First Time In Nearly 13 Months – Retail Calls The Selloff An ‘Overkill’

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The company announced a $50 million registered direct offering at a roughly 15% discount to the stock’s closing price a day earlier.

  • The company is expected to sell around 4.55 million ordinary shares and accompanying warrants at a combined purchase price of $11 per unit.
  • Toyo said it plans to use the proceeds primarily to support the construction of its 1.5-gigawatt heterojunction solar cell manufacturing facility in Texas.
  • The company recently revealed plans to invest around $357 million in the new facility.

Shares of Toyo Co. (TOYO) plunged more than 37% on Wednesday, marking their sharpest single-day decline in nearly two years, as investors reacted negatively to the solar equipment maker’s $50 million registered direct offering, which was priced at a roughly 15% discount to the stock’s closing price a day earlier.

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TOYO shares also cracked below their crucial 200-day moving average for the first time since May 2025.

Source: TradingView<

TOYO To Sell 4.55 Million Shares

The company is set to sell around 4.55 million ordinary shares and accompanying warrants at a combined purchase price of $11 per unit. The warrants, which carry an exercise price of $13.20 per share, will be exercisable immediately and remain valid for five years.

The offering is expected to close on June 25. Roth Capital Partners and H.C. Wainwright & Co. are serving as the exclusive co-placement agents.

TOYO’s Expansion Plans

Toyo said it plans to use the proceeds primarily to support the construction of its 1.5-gigawatt heterojunction (HJT) solar cell manufacturing facility in the Houston metropolitan area of Texas, as well as for general corporate purposes.

Earlier this month, the company revealed plans to invest around $357 million in the new facility, which will be co-located with its existing solar module manufacturing operations. The project is expected to create around 400 full-time manufacturing jobs.

The company also recently signed two master supply agreements with major U.S. solar developers, securing cumulative purchase orders valued at $185.6 million for commercial and utility-scale solar projects across the country.

What Is Retail’s Take On TOYO?

Despite the crash in the stock price, retail sentiment surrounding TOYO on Stocktwits flipped to ‘extremely bullish’ from ‘bearish’ a day earlier, while message volume jumped 1,250% over a 24-hour period.

One user called the selloff an “overkill.”

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TOYO shares have gained more than 37% so far this year.

Also read: SRXH Stock Crashed 20% Today – What’s Dampening Investors’ Mood?

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