🟢 FLNC is trading 5.1% up today on continued rebound from secondary offering selloff

FLNC is trading 5.1% up today at $19.90 as shares continue to rebound from a sharp pullback triggered by a large secondary stock offering from controlling shareholders.

• The recent selloff was driven by concerns over an expanded potential float and weakened sentiment, as the offering did not provide additional cash to the company.
• Today's price action extends yesterday’s recovery, likely fueled by bargain-hunting and short-covering interest in the absence of fresh company-specific news.