Why These Energy Stocks Are Losing This Week

4. Prairie Operating Co. (NASDAQ:PROP)

Share Price Decline Between Mar. 27 and Apr. 3: 22.54%

Prairie Operating Co. (NASDAQ:PROP) is an independent energy company engaged in the development, exploration, and production of oil, natural gas, and natural gas liquids in the United States.

The stock of PROP continued to fall after the company moved ahead with the public offering of $200 million of shares of its common stock and announced the pricing of an underwritten public offering of $38.5 million of shares of its common stock at $4.50 per share. Prairie Operating Co. (NASDAQ:PROP) plans to use proceeds from the offering to fund the acquisition of DJ Basin Assets from Bayswater Exploration and bolster its presence in the Denver-Julesburg Basin.