KE Holdings (BEKE) Falls as Firm Hints at Share Issuance
KE Holdings ended two straight days of losses on Monday, shedding 4.32 percent to finish at $17.74 apiece after the company hinted at issuing additional shares.
While no specifics have been divulged, a potential follow-on offer was among those approved by shareholders during its recently concluded annual general meeting last week.
According to KE Holdings Inc. (NYSE:BEKE), the directors of the company were granted a general unconditional mandate 'to allot, issue and deal with additional Class A ordinary shares or equivalents and a general unconditional mandate to repurchase the company's own shares, respectively.'
Typically, existing investors take issuance of new shares in a negative light, given its potential to dilute the value of existing stocks.
Aerial shot of a modern real estate development with residential homes.
KE Holdings Inc. (NYSE:BEKE) also announced the approval of its shareholders for the re-election of Jeffrey Zhaohui Li as a non-executive director, and Xiaohong Chen as an independent non-executive director.
While we acknowledge the potential of BEKE as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the best short-term AI stock.
READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires.
Disclosure: None. This article is originally published at Insider Monkey.
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