Joby Aviation shares are trading lower after the company priced its $202 million public offering of 40 million common shares at $5.05 per share.
Portfolio Pulse from Benzinga Newsdesk
Joby Aviation's stock is experiencing a decline following the announcement of a $202 million public offering, with 40 million shares priced at $5.05 each.
October 25, 2024 | 11:59 am
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Joby Aviation's stock is trading lower due to the pricing of its $202 million public offering, which involves 40 million shares at $5.05 each.
The decline in Joby Aviation's stock price is likely due to the dilution effect from the issuance of 40 million new shares at a price of $5.05, which is perceived as a lower valuation by the market.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100