Proficient Auto Logistics IPO Indicating $14.48/Share On 393,804 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 $14.48/share on 393,804 shares.
May 09, 2024 | 3:15 pm
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Proficient Auto Logistics' IPO was set at $15/share but is indicating a lower opening price of $14.48/share.
The indication of an opening price lower than the IPO price suggests initial market valuation concerns or less than expected demand for PAL shares. This could lead to a negative short-term impact on the stock price as the market adjusts to the new information.
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