Reliance Global (NASDAQ:RELI) stock is on the move Tuesday after the retail insurance company announced plans for a proposed public share offering.
Initially, shares of RELI stock were falling this morning after it announced a proposed public stock offering after markets closed on Monday. However, Reliance Global shares are now rising after the company withdrew its public offering this morning.
Ezra Beyman, CEO of Reliance Global, said the following in a news release:
“I am committed to protecting the interests of our shareholders and did not believe the final terms were favorable. As a result, we chose not to raise capital in this market. As in the past, I have been and am willing to step in and fund cash needs of the Company, should there be a need.”
RELI Stockholder Reactions Today
Shares of RELI stock have seen heavy trading on Tuesday as a result of its public stock offering news. That has more than 5 million shares on the move as of this writing. For the record, the company’s daily average trading volume is closer to 49,000 shares.
While investors were initially sour on RELI stock in pre-market trading today, the company’s shares are up 10.2% as of this writing.
Investors who are seeking out even more of the hottest stock market news will want to stick around!
We’re offering up all of the latest stock market news that traders need to know about on Tuesday! A few examples include why shares of LQR House (NASDAQ:LQR) and Tracon Pharmaceuticals (NASDAQ:TCON) stock are up today, as well as the biggest pre-market stock movers this morning. All of that news is ready to go at the following links!
More Tuesday Stock Market News
- Why Is LQR House (LQR) Stock Up 30% Today?
- Why Is Tracon Pharmaceuticals (TCON) Stock Up 19% Today?
- Today’s Biggest Pre-Market Stock Movers: 10 Top Gainers and Losers on Tuesday
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On the date of publication, William White did not hold (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.
