In an industry where every penny counts, the biggest name in digital marketing is a Walmart.Its $7.5 billion digital marketing program, dubbed "Smart Digital," could be the biggest online marketing program ever for a retailer, according to a report from McKinsey & Company, and the first to utilize Google and Amazon's data analytics technology.The deal could give Walmart a big foothold in the g...
On Monday, NNAG announced it had sold off $8.7 billion worth of shares to raise $11.3 billion in a round of financing, the biggest single-day sale of NNA stocks since the company was formed in 2006.
The shares are valued at $11 billion, up by more than $2 billion from the closing price of the previous day’s offering.NNAG’s announcement comes on the heels of a similar round of buybacks by the company last week, when the NNAE said it had raised $9.8 billion in equity financing.
The company has also raised $5.5 billion in new funding in the past year, according to its most recent SEC filing.
While the company’s shares have rallied over the past few months, the recent surge in shares could signal the stock’s imminent price increase, analysts said.
The stock is trading at $14.50 a share, up nearly 7% since NNAP last week.
NNAE shares were also the top performing stock for a second day, increasing 4.3% to $927.83.
The NNAB’s market cap has risen by $7.5bn since the beginning of the year, making it the most valuable private company in the United States.
The company’s $7 billion round of capital was also followed by the $5 billion sale of the NNNA group to New Jersey-based Cargill.
The two companies are in the process of converting their assets to cash.
Cargill’s shares rose 0.6% to just over $11 a share.
Shares of Cargil are currently trading at a premium to the company.