Snowflake shares are trading lower after the company announced a $2 billion private placement of senior convertible notes.
Portfolio Pulse from Benzinga Newsdesk
Snowflake shares declined following the announcement of a $2 billion private placement of senior convertible notes.
September 24, 2024 | 11:43 am
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Snowflake's stock is trading lower due to the announcement of a $2 billion private placement of senior convertible notes, which may dilute existing shareholders.
The issuance of convertible notes can lead to future dilution of shares, which often causes a negative reaction in the stock market. Investors may be concerned about the impact on earnings per share and the potential for increased debt.
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