Pagaya stock continues volatile ride with 60% plunge amid lockup expiration [MarketWatch]
Pagaya Technologies Ltd. (PGY)
Company Research
Source: MarketWatch
Referenced Symbols Shares of Israeli financial technology company Pagaya Technologies Ltd. were continuing their wild ride Tuesday, falling 60% as of midday in a move said to be related to a lockup expiration. Pagaya PGY, which uses artificial intelligence to model lending risk, went public in June through a merger with a special-purpose acquisition company (SPAC). The company has noted in filings that lockup restrictions were to be lifted in part Sept. 20. “The specific catalyst driving this week's action is the partial expiration of the post-SPAC lock-up agreement occurring today,” MoffettNathanson analyst Eugene Simuni wrote in a Tuesday note to clients. Pagaya disclosed that the Sept. 20 expiration applied to 50% of lockup shares. Restrictions are set to expire for the other 50% of shares on Dec. 19. Pagaya shares are set to fall for the fifth straight session, though the company is used to seeing wild stock swings in both directions. The stock enjoyed two 100% daily ju
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PGY
News
- Pagaya Announces Timing of First Quarter 2024 Earnings ReleaseBusiness Wire
- Pagaya Technologies Ltd. (PGY) Stock Falls Amid Market Uptick: What Investors Need to Know [Yahoo! Finance]Yahoo! Finance
- Pagaya to Form Strategic Advisory Board, Chaired by New Board Member and Former Apple and Goldman Sachs Executive, Tami Rosen [Yahoo! Finance]Yahoo! Finance
- Pagaya to Form Strategic Advisory Board, Chaired by New Board Member and Former Apple and Goldman Sachs Executive, Tami RosenBusiness Wire
- Point Hires Paride “Alex” de Calice to Lead Capital Formation [Yahoo! Finance]Yahoo! Finance
PGY
Earnings
- 2/21/24 - Beat
PGY
Sec Filings
- 4/11/24 - Form 8-K
- 4/9/24 - Form 4
- 4/9/24 - Form 4
- PGY's page on the SEC website