🔴 AAOI is trading 5.5% down today after announcing a $600M stock offering

AAOI is trading 5.5% down at $192.43 after announcing a large at-the-market stock offering of up to $600 million in common shares.

• Investors are reacting to potential dilution concerns stemming from the significant new equity issuance.
• The decline follows a period of high volatility, with the stock extending losses in pre-market trading after a sharp drop in the previous session.