Nebius Group (NBIS) Ends 5.4% Lower as $18-Billion Cloud Computing Deal Glow Fades

We recently published 10 Stocks Hammered Harder than Wall Street. Nebius Group NV (NASDAQ:NBIS) is one of the worst performers on Tuesday.

Nebius Group dropped its share prices by 5.4 percent to close at $128.15 apiece as investors unloaded positions while in a wait-and-see mode for more catalysts to boost buying appetite.

Investor enthusiasm appeared to have already cooled down after pricing in news of an $18 billion cloud computing deal with technology giant Microsoft Corp.

Under the deal, Nebius Group NV (NASDAQ:NBIS) would deliver the capacity from its new data center in Vineland, New Jersey, with capital expenditures targeted to come from a combination of cash flow from the deal and the issuance of debt.

Last month, Nebius Group NV (NASDAQ:NBIS) successfully raised $1.15 billion in fresh funds through the issuance of convertible senior notes and its underwriters’ exercise of their option to purchase over 1.6 million shares for a total of $150 million.

Additionally, it may tap other financing options to enable significantly faster growth than originally planned.

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READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now.

Disclosure: None. This article is originally published at Insider Monkey.