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Why Guardant Health Stock Just Crashed 10%

TheMotleyFool

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Why Guardant Health Stock Just Crashed 10%: https://g.foolcdn.com/editorial/images/788550/burning-cash.jpg

Shares of precision medicine company Guardant Health (NASDAQ: GH), which specializes in liquid biopsies to test for cancer, fell 10.6% through 10:05 a.m. ET Monday morning.

Monday was the first trading day in which investors got to react to a Guardant announcement late Friday, that it plans to sell stock and raise $400 million in new cash to fund its operations.

Guardant's announcement came in the form of an 8-K filing with the Securities and Exchange Commission (SEC). "From time to time at its sole discretion," said Guardant, it "may offer and sell (emphasis added) up to $400.0 million" in new shares at market prices.

Source Fool.com

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