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Why Is Nvni Group (NVNI) Stock Down 8% Today?

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  • Nvni Group (NVNI) stock is dropping after its recent SPAC merger.
  • That saw shares of NVNI stock debut on Tuesday.
  • The company’s shares fell that day and continue to do so on Wednesday!
NVNI Stock - Why Is Nvni Group (NVNI) Stock Down 8% Today?

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Nvni Group (NASDAQ:NVNI) stock is falling on Wednesday after the company recently made its public debut following a special purpose acquisition company (SPAC) merger.

Shares of NVNI stock started trading on Tuesday after completing its SPAC merger with Mercato Partners Acquisition. This has Pierre Schurmann continuing to lead the combined company alongside a board of seven members.

Nvni Group is a company focused on acquiring other software-as-a-service (SaaS) business-to-business (B2B) companies in Brazil. The company intends to use the funds from the SPAC merger to fuel further transactions. It already has a portfolio made up of seven SaaS companies.

Pierre Schurmann, CEO of Nvni Group, provided the following update about the company’s business in 2023:

“So far this year, we are on target to reach our net operating revenue estimates of U$40 million in 2023. Further we have been able to improve efficiency and are on target to improve our adjusted EBITDA margin, from our original target of 17.3% to a new estimated target of 24.7%.”

NVNI Stock Movement

Unfortunately for investors, shares of NVNI stock haven’t had the best start since going public. That includes the company’s shares experiencing a 24.9% drop during its first day of trading yesterday. That negative movement looks poised to continue, with shares of NVNI stock falling another 8.4% as of Wednesday morning.

Investors who want to read more of the latest stock market news today are in the right place!

We’re offering up all of the biggest stock stories that traders will want to read about on Wednesday! That includes everything happening with shares of Gain Therapeutics (NASDAQ:GANX) stock, Podcastone (NASDAQ:PODC) stock and Sonendo (NYSE:SONX) stock today. All of that news is ready to go at the links below!

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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.


Article printed from InvestorPlace Media, https://investorplace.com/2023/10/why-is-nvni-group-nvni-stock-down-8-today/.

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