Why Bill Holdings Stock Is Trading Down Today
Portfolio Pulse from Ryan Gustafson
BILL Holdings, Inc. (NYSE:BILL) shares traded lower following a false report suggesting the company was nearing a deal to acquire Melio Payments. The company clarified it is not pursuing any such acquisition. The stock experienced above-average trading volume of 17.45 million shares compared to its average volume of 2.29 million. Shares of BILL were down 9.27% at $56.43.
November 09, 2023 | 8:49 pm
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BILL Holdings' stock traded lower after a false acquisition report. The company denied the acquisition plans, causing a spike in trading volume and a 9.27% drop in share price.
The false report of BILL Holdings' potential acquisition of Melio Payments led to increased trading volume and a drop in share price. The company's denial of such plans further impacted the stock negatively.
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IMPORTANCE 80
RELEVANCE 100