Methode Electronics, Brookfield Renewable Partners And Other Big Stocks Moving Lower On Tuesday
Portfolio Pulse from Lisa Levin
Methode Electronics, Beneficient, Cibus, Chijet Motor Company, Super Micro Computer, Compass, Landsea Homes, AvePoint, Brookfield Renewable Partners, HubSpot, and Biogen stocks experienced declines on Tuesday. Methode Electronics reported worse-than-expected preliminary Q4 results, while Landsea Homes' largest shareholder priced a secondary stock offering.
June 13, 2023 | 2:36 pm
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NEGATIVE IMPACT
Landsea Homes shares declined 7.2% after its largest shareholder priced a secondary stock offering of 2.95 million shares at $7.50 per share.
Landsea Homes' largest shareholder priced a secondary stock offering of 2.95 million shares at $7.50 per share, which led to a 7.2% decline in the stock price as investors reacted to the dilution of shares.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 100
NEGATIVE IMPACT
Methode Electronics shares dipped 15.7% after reporting worse-than-expected preliminary Q4 results and a lagging FY24 outlook.
Methode Electronics reported worse-than-expected preliminary Q4 results and a lagging FY24 outlook, which negatively impacted investor sentiment and led to a 15.7% decline in the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100