Intapp shares are trading lower after the company announced the launch of a secondary offering of common stock.
Portfolio Pulse from Benzinga Newsdesk
Intapp, Inc. (INTA) shares have declined following the announcement of a secondary offering of common stock. This move typically dilutes existing shareholders and can put downward pressure on the stock price in the short term.
November 15, 2023 | 6:35 pm
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Intapp's announcement of a secondary offering of common stock is likely to dilute the value of existing shares, causing a short-term negative impact on its stock price.
Secondary offerings often lead to dilution of existing shares, which can result in a decrease in stock price as the market absorbs the additional supply. The immediate reaction to such news is typically negative, as investors adjust to the potential impact on their holdings.
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