Innoviz: Recovering From Devastating Capital Raise
Update - Oct. 31, 2023
Innoviz is seeing a nice bounce about a week after the company confirmed strong guidance for the 2H. The Lidar forecast Q3 sales doubling sequentially, ye the stock trades at all-time lows.
Original article published on Oct. 12
- Innoviz Technologies Ltd. completed a capital raise below the market price, causing the stock to plunge.
- The Lidar company eventually needed more capital to fund its business, but the timing and pricing of the offering spooked the market.
- Innoviz has boosted its revenue forecasts and has potential for growth, but investor confidence has been reduced.
Read the full article on Seeking Alpha.
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