GlobalFoundries shares are trading lower after the company announced the launch of a $950 million secondary offering.
Portfolio Pulse from Benzinga Newsdesk
GlobalFoundries shares are trading lower following the announcement of a $950 million secondary offering.
May 22, 2024 | 8:15 pm
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GlobalFoundries shares are trading lower after the company announced a $950 million secondary offering. This move typically dilutes existing shares, leading to a decrease in stock price.
The announcement of a secondary offering often leads to a decrease in stock price due to the dilution of existing shares. Investors may react negatively in the short term as the market adjusts to the increased supply of shares.
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