Why Super Micro Computer Stock Is Pulling Back This Morning
Shares of server and storage solution specialist Super Micro Computer (NASDAQ: SMCI) slumped Friday, shedding as much as 4.8%. As of 12:17 p.m. ET, the stock was still down 1.5%.
The catalyst that pushed the stock lower was a sizable secondary stock offering.
Super Micro Computer, commonly called Supermicro, announced a secondary stock offering this week that gave investors pause. In a regulatory filing with the Securities and Exchange Commission (SEC) and subsequent press release, the company said it is selling 2,100,700 shares of common stock.
Source Fool.com
