Western Digital shares are trading lower after the company announced a proposed $1.3 billion convertible notes offering.
Portfolio Pulse from Benzinga Newsdesk
Western Digital has announced a proposed $1.3 billion convertible notes offering, leading to a decrease in its share price.
October 30, 2023 | 8:45 pm
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Western Digital's stock price is expected to be negatively impacted in the short term due to the announcement of a $1.3 billion convertible notes offering.
The announcement of a convertible notes offering often leads to a decrease in the company's stock price as it dilutes the equity of existing shareholders. This is likely the reason for the drop in Western Digital's stock price.
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