Here’s Why Pagaya Technologies Stock Skyrocketed 130% on Wednesday
Shares of Israeli fintech company Pagaya Technologies Ltd. (NASDAQ: PGY) soared almost 130% on Wednesday to close at $6.20. The stock jumped on the news that the company filed a prospectus related to the sale of its shares. This led to the expectations of a potential takeover, which pushed the stock up. According to the prospectus, Pagaya could offer up to 673 million or over 50% of its shares for sale. Viola Ventures and Aflac are major shareholders in the company. Pagaya uses machine learning, big data analytics, and artificial intelligence to improve financial and lending processes.
Here’s Why Pagaya Technologies Stock Skyrocketed 130% on Wednesday
Shares of Israeli fintech company Pagaya Technologies Ltd. (NASDAQ: PGY) soared almost 130% on Wednesday to close at $6.20. The stock jumped on the news that the company filed a prospectus related to the sale of its shares. This led to the expectations of a potential takeover, which pushed the stock up. According to the prospectus, Pagaya could offer up to 673 million or over 50% of its shares for sale. Viola Ventures and Aflac are major shareholders in the company. Pagaya uses machine learning, big data analytics, and artificial intelligence to improve financial and lending processes.