Cemtrex shares are trading lower after the company announced pricing of a $10 million upsized underwritten public offering.
Portfolio Pulse from Benzinga Newsdesk
Cemtrex shares are trading lower following the announcement of a $10 million upsized underwritten public offering.
May 01, 2024 | 1:20 pm
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NEGATIVE IMPACT
Cemtrex's stock price is trading lower due to the announcement of a $10 million upsized underwritten public offering.
Public offerings often lead to a dilution of existing shares, causing a negative short-term impact on the stock price. Given the size of the offering relative to the company, this is likely to have a significant impact.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100