We recently published 10 Stocks Hammered Harder than Wall Street. Nebius Group NV is one of the worst performers on Tuesday.
Nebius Group dropped its share prices by 5.4 percent to close at $128.15 apiece as investors unloaded positions while in a wait-and-see mode for more catalysts to boost buying appetite.
Investor enthusiasm appeared to have already cooled down after pricing in news of an $18 billion cloud computing deal with technology giant Microsoft Corp.
Under the deal, Nebius Group NV would deliver the capacity from its new data center in Vineland, New Jersey, with capital expenditures targeted to come from a combination of cash flow from the deal and the issuance of debt.
Photo by Javier Esteban on Unsplash
Last month, Nebius Group NV successfully raised $1.15 billion in fresh funds through the issuance of convertible senior notes and its underwriters’ exercise of their option to purchase over 1.6 million shares for a total of $150 million.
Additionally, it may tap other financing options to enable significantly faster growth than originally planned.
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This article is originally published at Insider Monkey.
