Why Casella Waste Systems (CWST) Stock Is Falling
Portfolio Pulse from Henry Khederian
Casella Waste Systems (CWST) shares fell by 5.44% after announcing a $450 million public offering of 4.5 million shares at $100 each. The proceeds will fund acquisitions and repay debt.
September 18, 2024 | 2:30 pm
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Casella Waste Systems' stock fell 5.44% due to a $450 million public offering of 4.5 million shares at $100 each. The funds will support acquisitions and debt repayment.
The announcement of a public offering typically leads to a decrease in stock price due to dilution concerns. The offering will fund acquisitions and debt repayment, which are positive long-term but may not offset short-term dilution effects.
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