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Read previewVenture capital firm Ventech has sold its stake in digital music company Believe, saying the company's lack of liquidity has led to it being "chronically undervalued" on the Paris Stock Exchange. "It wasn't really possible to use the Believe stock to accelerate its build-up," he added. Related stories"The management wanted to size the company, but the stock price and liquidity wasn't allowing that," he said. Ventech has raised an initial closing for its sixth fund, targeted at around €225 million ($241 million). Ventech has made initial deals from its sixth fund, backing French startup Firecell and German real-estate management company Einwert.
Persons: , Ventech, Jean Bourcereau, Thomas Bravo, Bourcereau Organizations: Service, Paris Stock Exchange, Business, London Stock Exchange Locations: Ventech, , Europe, Stockholm
Zynex, Coherus BioSciences , Universal Insurance Holdings — Coherus, Zynex and Universal Insurance stock fell on news from S&P 500 Dow Jones indices that the stocks would be moving within small-cap indexes. Coherus is leaving the MidCap 400 for the MidCap 600, while Universal Insurance is leaving the MidCap 600 altogether. American Express — Stock in the credit card giant ticked up 0.5% following an upgrade to outperform from sector perform from RBC earlier Tuesday. The S&P 500 is widely tracked by large index funds, which could create buying pressure on Airbnb's stock in the weeks ahead. Oracle — The software stock added 1.5% in premarket trading following an upgrade to overweight from equal weight by Barclays.
Persons: Dow Jones, Zynex, Airbnb, acquirer Thomas Bravo, , Alex Harring, Jesse Pound Organizations: New York, Coherus BioSciences, Universal Insurance Holdings, Universal Insurance, RBC, Healthcare, Bloomberg, Oracle, Barclays, Brady, Brady Corporation, FactSet, Warner Bros Locations: Airbnb
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