CORRECTION: Ryde Group shares are trading lower after the company announced a $4.5 million public offering at $0.85 per unit.
Portfolio Pulse from Benzinga Newsdesk
Ryde Group shares are experiencing a decline following the announcement of a $4.5 million public offering priced at $0.85 per unit.
September 26, 2024 | 1:44 pm
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Ryde Group's stock is trading lower due to the announcement of a $4.5 million public offering at $0.85 per unit, which may dilute existing shares.
The announcement of a public offering often leads to a decrease in stock price due to potential dilution of existing shares. The offering price of $0.85 per unit may also be perceived as undervaluing the stock, contributing to the decline.
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IMPORTANCE 80
RELEVANCE 100