Presto Automation shares are trading lower after the company entered securities purchase agreements relating to the issuance and sale of 4.8 million shares
Portfolio Pulse from Benzinga Newsdesk
Presto Automation's stock is trading lower following the announcement of securities purchase agreements for the sale of 4.8 million shares.

March 19, 2024 | 4:41 pm
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Presto Automation's shares are trading lower due to the sale of 4.8 million shares, indicating a potential dilution of existing shares.
The sale of 4.8 million shares by Presto Automation is likely to dilute the value of existing shares, leading to a decrease in stock price. This is a common reaction in the market to large issuances of new shares, as it increases the supply of the stock without an immediate increase in demand.
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