Ovintiv shares are trading lower after the company announced a 15 million share offering by selling shareholders.
Portfolio Pulse from Bill Haddad
Ovintiv Inc. announced a 15 million share offering by selling shareholders, leading to a decrease in its stock price.
September 11, 2023 | 6:03 pm
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Ovintiv's stock price is expected to be negatively impacted in the short term due to the announced 15 million share offering by selling shareholders.
The announcement of a large share offering typically leads to a decrease in the stock price as it dilutes the value of existing shares. Given that Ovintiv is directly involved and the size of the offering, the impact on the stock price is expected to be significant in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100