REV Group shares are trading lower after the company announced the pricing of its secondary offering of 7,395,191 shares at $18 per share.
Portfolio Pulse from Benzinga Newsdesk
REV Group's stock is trading lower following the announcement of its secondary offering pricing at $18 per share for 7,395,191 shares.
March 14, 2024 | 1:13 pm
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REV Group's stock price is expected to face downward pressure in the short term due to the secondary offering.
Secondary offerings often lead to short-term price declines due to the dilution of existing shares and the perception of the company needing to raise capital. The pricing of REV Group's secondary offering at $18 per share, which may be perceived as unfavorable by the market, could lead to a decrease in stock price in the short term.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100