Why MeridianLink (MLNK) Stock Is Trading Lower
Portfolio Pulse from Henry Khederian
MeridianLink Inc (NYSE:MLNK) shares fell by 7.4% to $21.22 after announcing a secondary public offering of 6 million shares. The offering, managed by J.P. Morgan Securities LLC, is expected to close on September 30. MeridianLink will not receive proceeds from this sale.
September 27, 2024 | 2:56 pm
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MeridianLink's stock dropped 7.4% following the announcement of a secondary public offering of 6 million shares. The company will not receive any proceeds from this sale, which may have contributed to the stock's decline.
The announcement of a secondary public offering typically leads to a decrease in stock price due to dilution concerns. Additionally, MeridianLink not receiving proceeds from the sale may have further impacted investor sentiment negatively.
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