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Why Two Harbors Stock Was All Wet Today

TheMotleyFool

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Tuesday was a particularly damp and soggy day for Two Harbors Investment (NYSE: TWO). Its shares sank by over 9% after it set the price for a fresh stock flotation.

Two Harbors announced Tuesday that it would reap gross proceeds of $260 million from a public offering of 40 million shares, putting the per-share price at $6.50. Investors promptly traded the stock down to just above that level.

Image source: Getty Images.

Source Fool.com

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