Forgent Power hits lowest since IPO after CFO change
Yesterday 16:23
BUZZ-Forgent Power hits lowest since IPO after CFO change ** US power equipment maker Forgent Power Solutions FPS.N down 23.7% at $24.25
** Stock trading at its the lowest levels since the co's IPO in February, also set for its biggest one-day decline
** FPS names insider Amy Ard as CFO, replacing Ryan Fiedler
** Fiedler will move to an external consulting role
** Stock also impacted by a broader selloff in AI-linked stocks, as a majority of FPS's revenue comes from data centers, grids
** FPS down 10.15% from its IPO price of $27
(Reporting by Jayasree Prabhu)