Why Nuvve Holding Shares Are Falling Friday
Portfolio Pulse from Nabaparna Bhattacharya
Nuvve Holding Corp. (NASDAQ:NVVE) shares fell after the company filed for a public offering of 2.3 million shares, along with various series of warrants. Additionally, CEO Gregory Poilasne's employment agreement was amended, with a salary change scheduled for 2024. The company was awarded a $16 million project for fleet electrification, and there was a change in board leadership with Jon M. Montgomery appointed as Interim Chairperson following Rashida La Lande's resignation. NVVE shares dropped 28.7% to $3.55.
January 26, 2024 | 6:56 pm
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Nuvve Holding Corp.'s stock price plummeted following the announcement of a public offering and changes in CEO compensation and board leadership.
The stock price decline is likely due to the public offering, which can dilute existing shares, and potential concerns over the amended CEO employment agreement and board changes. The $16 million project award may not be sufficient to counteract the negative sentiment from the offering and leadership changes.
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IMPORTANCE 90
RELEVANCE 100