Aurora Innovation shares are trading lower after the company disclosed plans to sell $600 million worth of stock in a private placement.
Portfolio Pulse from Benzinga Newsdesk
Aurora Innovation has announced plans to sell $600 million worth of stock in a private placement, causing its shares to trade lower.
July 19, 2023 | 9:55 am
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Aurora Innovation's stock price is trading lower due to the company's announcement of a $600 million private stock sale.
The announcement of a large private stock sale often leads to a decrease in the company's stock price in the short term, as it dilutes the value of existing shares. This is likely the reason for the drop in Aurora Innovation's stock price.
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