Proficient Auto Logistics IPO Indicating $14/Share On 270,161 Shares; IPO Priced At $15/Share On 14.33M Shares
Portfolio Pulse from Benzinga Newsdesk
Proficient Auto Logistics (PAL) IPO was priced at $15/share for 14.33 million shares, but is indicating an opening price of $14/share on 270,161 shares.
May 09, 2024 | 3:06 pm
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Proficient Auto Logistics' IPO was set at $15/share but is indicating a lower opening price of $14/share.
The indication of a lower opening price than the IPO price suggests a potential decrease in investor confidence or demand for PAL shares, which could lead to a short-term negative impact on the stock price.
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