QXO falls 7.23% after announcing $2 billion share sale, potential investment with downside risk

From Yahoo Finance: 2025-06-26 13:34:00

QXO, Inc. (NYSE:QXO) saw a 7.23% decline on Wednesday, closing at $21.81 per share after announcing plans to raise $2 billion through a share sale program. The company is in a bidding war with Home Depot Inc. to acquire GMS Inc. for $5 billion. Underwriters have the option to purchase an additional $300 million of shares.

Goldman Sachs & Co. LLC, Morgan Stanley, and Wells Fargo Securities are serving as underwriters for the offering. While QXO shows potential as an investment, some AI stocks may offer higher returns with less downside risk. To explore an affordable AI stock with potential benefits from Trump tariffs and onshoring, check out the free report on the best short-term AI stock.

Read more: QXO (QXO) Falls 7.23% After $2-Billion Share Sale