Shares of Super Micro Computer (NASDAQ: SMCI) were sliding for the second day in a row today. Following a sell-off yesterday that seemed related to its inclusion in the S&P 500, Supermicro stock was down sharply again on Tuesday, this time on news of a secondary offering.

The high-flying AI server specialist filed this morning to sell 2 million shares, diluting existing shareholders by approximately 3.6%.

The company said it planned to use those proceeds for capital support of its operations, the purchase of inventory, manufacturing capacity expansion, and increased research and development (R&D) investments, as well as other working capital purposes.

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Source Fool.com