Why Southwestern Energy Stock Is Sinking Today
Shares of Southwestern Energy (NYSE: SWN) slumped about 9% by 10 a.m. ET on Monday. Weighing on the natural gas stock was a big block trade by large shareholders.
Southwestern Energy announced the pricing of a large block trade today. Certain of its shareholders sold nearly 64 million shares of its stock, netting them $328.2 million in the sale. The company didn't receive any of the proceeds from this sale.
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Source Fool.com
