Why Liberty Oilfield Services Stock Is Sinking Today
Shares of Liberty Oilfield Services (NYSE: LBRT) slumped roughly 10% by 10:30 a.m. EST on Tuesday. The primary factor weighing on the oil stock was a stock sale by some large investors.
Liberty disclosed a public offering to sell 8.7 million shares by some large existing shareholders. The selling shareholders could unload an additional 1.3 million shares depending on demand. Liberty isn't selling any stock in the offering and won't receive any of the proceeds.
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Source Fool.com
