Kingsoft Cloud Holdings Ltd declined 16.82% after announcing a follow-on offer and private placement plan.
From Yahoo Finance: 2025-04-17 00:08:00
The stock market plunged on Wednesday due to Chairman Jerome Powell’s bearish comments on the US economy, warning about inflation from tariff policies. The Nasdaq dropped 3.07%, the S&P 500 fell 2.24%, and the Dow Jones was down 1.73%. Kingsoft Cloud Holdings Ltd (KC) declined 16.82% after announcing a follow-on offer and private placement plan to sell 18.5 million ADS at $11.27 each, with existing shareholder buying 69.4 million shares at the same price. The total number of ADS translates to 277.5 million ordinary shares.
Read more at Yahoo Finance: Why Kingsoft Cloud Holdings Limited (KC) Declined on Wednesday