Why Porch Group Stock Collapsed on Monday
Shares of Porch Group (NASDAQ: PRCH) fell sharply on Monday morning. The cloud-based provider of homebuyer and homeowner services stumbled out of the gate, falling as much as 16.3% in early trading. As of 2:23 p.m. EDT, the shares were still down 15.7% compared with Friday's closing price.
Investors seemed concerned as Porch Group announced plans to raise capital by selling convertible notes.
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Source Fool.com
