FLNC is trading 5.1% down today at $19.70 as investors continue to digest the impact of a recent secondary stock offering amid a broader risk-off environment for growth stocks.
- The company completed a $483 million secondary public offering on May 15, and the market is still absorbing the significant increase in share supply.
- Softer risk sentiment is amplifying volatility for the stock following sharp price swings observed last week.