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 23, 2024 | 10:34 am
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GlobalFoundries announced a $950 million secondary offering, leading to a decline in its share price.
The announcement of a secondary offering typically dilutes existing shares, leading to a decrease in share price. Investors may be concerned about the potential dilution and the reasons behind the capital raise.
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