Why Shares of Focus Financial Partners Are Falling Heading Into the Weekend

Shares of Focus Financial Partners (NASDAQ: FOCS) had fallen close to 10% around noon today after the wealth management firm reported that it is launching a secondary offering of common stock.

Focus Financial, which typically invests in and partners with independent wealth management firms, recently said it would launch a secondary offering of 7 million shares of class A common stock.

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Source Fool.com