Why Impinj Stock Popped Again Today
Shares of radio-frequency identification specialist Impinj (NASDAQ: PI) are notching strong gains Tuesday afternoon, up 6% as of 12:35 p.m. EDT and extending the stock's strong momentum following last week's earnings beat.
So why is Impinj stock rising this time? Well, last night after close of trading, the company announced that it is offering $225 million worth of convertible senior notes due 2027 for sale, and potentially nearly $260 million if underwriters exercise their overallotment option.
Granted, seeing a company take out tens of millions of dollars' worth of debt isn't ordinarily something you'd call good news, but in this case it probably is.
Source Fool.com
