FLNC is trading 4.9% down at $19.75 as the stock faces pressure from a recent secondary offering and a broader market sell-off.
- Fluence recently completed a $483 million secondary public stock offering on May 15, which continues to weigh on shares as investors digest the added supply.
- The move comes amid a softer tape for the Nasdaq, with higher interest rates and oil prices hurting risk appetite for clean-energy names even in the absence of fresh company news.