Nasdaq shares are trading lower following the pricing of a secondary offering of 26,956,522 common shares by Borse Dubai at $59 per share.
Portfolio Pulse from Benzinga Newsdesk
Nasdaq shares are trading lower after Borse Dubai priced a secondary offering of 26,956,522 common shares at $59 each.
March 20, 2024 | 11:18 am
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NEGATIVE IMPACT
Nasdaq's stock price is trading lower due to the secondary offering priced by Borse Dubai.
The secondary offering by Borse Dubai likely increased the supply of Nasdaq's shares in the market, leading to a decrease in the stock price due to the principles of supply and demand. The pricing of the offering at $59 per share, which might be perceived as lower than expected, could have contributed to the negative sentiment.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100