Sprout Social falls after saying there's no process in place to sell or go private

Sprout Social

21/05/2024 13:58

** Shares of Sprout Social  SPT.O  fall 8.8% to $29
premarket
    ** The company, which provides social media management tools
to businesses, said currently there is no process in place to
sell or take the company private 
    ** Stock rose 6.3% on Monday after Reuters reported the
founders of SPT are in talks to take co private, changing course
after listing the company in the stock market five years ago
    ** Stock has nearly halved in value this year

 (Reporting by Medha Singh)
 ((medha.singh@thomsonreuters.com))