Stock price drops after announcement of public offering

  • Kinetik Holdings shares fall 6% after news of secondary offering
  • Apache Midstream LLC plans to offer 6 million shares of Kinetik Class A common stock
  • Kinetik shares drop 6.2% in after-hours trading, closing at $32.20
  • Kinetik will not receive any proceeds from the offering

Shares of Kinetik Holdings experienced a 6% decline after news broke that Apache Midstream LLC intends to conduct a secondary public offering of 6 million shares of Kinetik Class A common stock. In after-hours trading, Kinetik shares dropped 6.2% to $32.20, following a 1.1% loss during the regular session, where the stock closed at $34.31. It is important to note that Kinetik will not be selling any shares in the offering and will not receive any proceeds.

Factuality Level: 10
Factuality Justification: The article provides factual information about the trading activity and the secondary public offering of Kinetik Holdings. It does not contain any irrelevant or misleading information, sensationalism, redundancy, or opinion masquerading as fact. The information is presented objectively and accurately.
Noise Level: 3
Noise Justification: The article provides relevant information about Kinetik Holdings and Apache Midstream LLC’s planned secondary public offering. It includes the current stock price and the closing price of the day’s regular session. However, it lacks in-depth analysis, scientific rigor, and actionable insights. The article stays on topic and supports its claims with evidence, but it does not explore long-term trends or consequences of the offering.
Financial Relevance: Yes
Financial Markets Impacted: Kinetik Holdings
Presence Of Extreme Event: No
Nature Of Extreme Event: No
Impact Rating Of The Extreme Event: No
Rating Justification: The news article pertains to a financial topic as it discusses the secondary public offering of Kinetik Holdings’ shares by Apache Midstream LLC. However, there is no mention of any extreme event or its impact.
Public Companies: Kinetik Holdings (N/A), Apache Midstream LLC (N/A)
Key People:

Reported publicly: www.marketwatch.com