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 fell following the announcement of a $4.5 million public offering at $0.85 per unit.
September 26, 2024 | 1:48 pm
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Ryde Group's stock price declined after the announcement of a $4.5 million public offering at $0.85 per unit, indicating potential dilution of existing shares.
The announcement of a public offering typically leads to a decrease in stock price due to the potential dilution of existing shares. The offering price of $0.85 per unit may also be perceived as undervaluing the current stock price, contributing to the decline.
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