Shares of FUEL Stock Dive After Pricing Stock Offering

Shares are down over 7% Friday

   

Shares of FUEL Stock Dive After Pricing Stock Offering

Rocket Fuel (FUEL) announced the pricing of its 5,000,000 shares public offering which led to FUEL stock taking a nosedive almost immediately.

RocketFuelPromo1 Shares of FUEL Stock Dive After Pricing Stock OfferingThe tech company started offering those shares at a per-stock price of $61.00. Out of those 5,000,000 shares, Rocket Fuel was selling 2,000,000 and certain stockholders are offering 3,000,000 shares. Additionally, some of the selling stockholders have granted the underwriters a 30-day option to purchase up to 750,000 additional shares of common stock from them.

The move backfired on the company as FUEL stock is down 7.5% Friday. Rocket Fuel works with artificial intelligence in order to improve digital advertising.

 


Article printed from InvestorPlace Media, http://investorplace.com/2014/01/fuel-stock/.

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