🔴 T1 Energy Inc. is trading 4.8% down today on profit-taking after authorized share increase rally

T1 Energy Inc. is trading 4.8% down at $8.61 today, giving back gains from the previous session's rally.

• Shareholders approved doubling the authorized common stock to 1 billion shares at the June 17 annual meeting, a move the company says will increase capital-raising flexibility.
• The current pullback follows a 4.8% jump in the prior session, as investors digest the potential for future share dilution resulting from the new authorization.