ITT Stock Drops After New Share Offering

ITT Incorporateds stock price dropped by 6.3% following the announcement of a new share offering to fund the acquisition of SPX FLOW for $4.775 billion. This significant stock movement is unusual for ITT, which typically has low volatility. Despite todays dip, ITTs shares have risen by 20.3% this year and an investor who bought $1000 worth five years ago would now have approximately $2231.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.