Shares of FUEL Stock Dive After Pricing Stock Offering

by Karl Utermohlen | January 31, 2014 3:00 pm

Shares of FUEL Stock Dive After Pricing Stock Offering

Rocket Fuel (FUEL[1]) 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 Offering[2]The tech company started offering those shares[3] 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.

 

Endnotes:
  1. FUEL: http://studio-5.financialcontent.com/investplace/quote?Symbol=FUEL
  2. [Image]: http://investorplace.com/wp-content/uploads/2013/08/RocketFuelPromo1.gif
  3. offering those shares: http://rocketfuel.com/company

Source URL: http://investorplace.com/2014/01/fuel-stock/
Short URL: http://invstplc.com/1nwP3Sq