FiscalNote shares are trading lower after the company reported worse-than-expected Q3 revenue results. Also, the company filed for a $100M mixed shelf offering.
Portfolio Pulse from Benzinga Newsdesk
FiscalNote's stock price has declined following the release of their Q3 revenue results, which fell short of expectations. Additionally, the company has filed for a $100M mixed shelf offering, potentially diluting current shareholders.
November 14, 2023 | 6:41 pm
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NEGATIVE IMPACT
FiscalNote's shares are down due to poor Q3 revenue performance and the announcement of a $100M mixed shelf offering.
The negative impact on FiscalNote's stock (NOTE) is due to two primary factors: the company's Q3 revenue not meeting analysts' expectations, which can erode investor confidence, and the filing for a $100M mixed shelf offering, which suggests potential dilution for existing shareholders. Both factors are likely to exert downward pressure on the stock price in the short term.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100