Why Polestar Automotive (PSNY) Stock Is Nosediving
Portfolio Pulse from Henry Khederian
Polestar Automotive Holding Uk Plc (NASDAQ:PSNY) shares dropped by 7.9% after the company filed for a mixed shelf offering of up to $1 billion in stock and warrants. The proceeds will be used for general corporate purposes. Mixed shelf offerings can dilute the ownership stake of existing shareholders, reducing the value per share.
October 11, 2023 | 12:18 pm
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Polestar's stock price dropped following the announcement of a mixed shelf offering, which could dilute the ownership stake of existing shareholders.
The company's decision to file for a mixed shelf offering of up to $1 billion in stock and warrants has led to a drop in its stock price. This is because such offerings can dilute the ownership stake of existing shareholders, reducing the value per share.
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