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Why Limelight Networks, Inc. Stock Fell 10% Today

TheMotleyFool

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Why Limelight Networks, Inc. Stock Fell 10% Today

Shares of Limelight Networks (NASDAQ: LLNW) had a rough day on Thursday, dipping as low as 10.3% below Wednesday's closing prices at 11:30 a.m. and again by 1:15 p.m. EST. The plunge appears to be an overreaction to a fairly trivial press release.

In the aforementioned release, the content delivery expert announced a public offering of shares. There were no clues regarding the size of the stock sale, but the shares will not be of the freshly printed variety. Instead, they will come from the holdings of asset managers affiliated with megabank Goldman Sachs (NYSE: GS).

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Source: Fool.com