Why Pagaya Technologies (PGY) Stock Is Trading Lower

Pagaya Technologies Ltd PGY shares are trading lower by 21.9% to $9.73 during Thursday’s session after the company announced its intention to offer $125 million of exchangeable senior notes due 2029 in a private offering.

What Else: Pagaya Technologies subsidiary, Pagaya US Holding Company LLC, plans to offer $125 million in exchangeable senior notes due 2029 in a private offering to institutional buyers. Additionally, the company may grant buyers an option to purchase up to an additional $18.75 million in notes.

These unsecured notes will accrue interest semi-annually and mature on October 1, 2029. They are exchangeable under specific conditions into cash, Class A shares, or a combination of both.

The notes are not redeemable until October 2027, after which they can be redeemed if Pagaya’s share price exceeds 130% of the exchange price.

Read Also: What’s Going On With Nvidia, Broadcom, Intel And Other Chip Stocks On Thursday?

Should I Sell My PGY Stock?

When deciding to hold on to or sell a stock, investors should consider their time horizon, unrealized gains and total return.

Shares of Pagaya Technologies have decreased by 47.31% in the past year. An investor who bought shares of Pagaya Techs at the beginning of the year would take a loss of $5.61 per share if they sold it today. The stock has fallen 23.51% over the past month, meaning an investor who bought shares on Aug. 1 would see a capital loss of $3.58.

Pagaya Techs shares have an all-time high of $359.4, representing 3497.6% upside from current levels.

Investors may also consider market dynamics. The Relative Strength Index can be used to indicate whether a stock is overbought or oversold. Pagaya Techs stock currently has an RSI of 55.44, indicating neutral conditions.

For access to advanced charting and analysis tools and stock data, check out Benzinga PRO. Try it for free.

According to data from Benzinga Pro, PGY has a 52-week high of and a 52-week low of