Why Skillz Stock Sank by Almost 4% on Thursday

Thursday wasn't a banner day to be an investor in Skillz (NYSE: SKLZ). The mobile games platform operator's stock price tumbled downhill by nearly 4%, a steeper drop than that suffered by the S&P 500 index. It seems investors didn't like the company's latest update on a new round of financing.

After announcing last week that it would offer $300 million worth of senior secured notes in a private offering, Skillz filled in some of the issue's details late on Wednesday.

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Source Fool.com