Why Shares of StepStone Group Fell Today

Shares of the investment solutions and advisory firm StepStone Group (NASDAQ: STEP) fell more than 10% today after the company announced a secondary offering of common stock.

Certain StepStone shareholders intend to sell 4.5 million shares of class A common stock into the market. Offerings like these tend to send the stock downward as lots of shares just flooded the market.

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Source Fool.com