Pagaya Technologies shares are trading higher after the company said it expects preliminary 2023 network volume and adjusted EBITA to exceed the high end of its outlook ranges.
Portfolio Pulse from Benzinga Newsdesk
Pagaya Technologies anticipates exceeding the high end of its 2023 network volume and adjusted EBITA outlook ranges, leading to an increase in its share price.
January 16, 2024 | 4:42 pm
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POSITIVE IMPACT
Pagaya Technologies expects to outperform its previously stated 2023 financial guidance, which has resulted in a positive reaction in its stock price.
The positive outlook provided by Pagaya Technologies regarding its network volume and adjusted EBITA for 2023 suggests strong financial performance. This type of news typically leads to increased investor confidence and can result in a short-term rise in the stock price, as it indicates the company is performing better than expected.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100