Why Gulfport Energy (GPOR) Shares Are Nosediving
Portfolio Pulse from Henry Khederian
Gulfport Energy Corp (GPOR) shares are down 8.97% after announcing the pricing of an underwritten public offering of 1.3 million shares at $95.00 per share. The company also plans to purchase approximately $25 million of its common stock from certain selling stockholders at the same price.
June 22, 2023 | 2:05 pm
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NEGATIVE IMPACT
Gulfport Energy's stock price is down 8.97% after announcing a public offering of 1.3 million shares at $95.00 per share and plans to buy back $25 million of its stock.
The announcement of the public offering of 1.3 million shares at $95.00 per share has led to a decrease in Gulfport Energy's stock price. The company's plan to buy back $25 million of its stock from certain selling stockholders at the same price may also be contributing to the decline.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100