Sitime

SiTime ($647.59) plunged 8.0% during regular trading today after completing its acquisition of Renesas' timing business and concurrently announcing a $1.2B upsized convertible senior notes offering, fueling concerns over dilution. Opening at $703.11, the stock quickly reversed and hit an intraday low of $645.00, completely erasing a pre-market high of $729.77 in a spike-and-crash pattern. Q1 revenue surged 88.29% YoY to $113.6M while net loss narrowed 78.15% to $5.2M, yet the stock remains below its 20-day MA ($695.66) and 28% off the 52-week high ($901.81). Though shares recovered to $703.00 in post-market trading, partially retracing the loss.