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Why Denny's Stock Fell Hard This Morning

TheMotleyFool

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Why Denny's Stock Fell Hard This MorningPhoto, wide shot, wide-angle lens, Home appliance manufacturer, neutral atmosphere, photo by Joe Cornish: https://img.theapi.app/temp/fb3845ac-e3c6-43ef-86c1-b57ed8c272c4.png

Shares of Denny's Corporation (NASDAQ: DENN) fell sharply on Wednesday morning, after the casual dining restaurant chain announced the pricing of its new public share offering. As of 10:30 a.m. EDT, the stock was down 9%.

Considering Denny's public offering priced at $9.15 per share, today's drop appears totally justified. That's not encouraging for Denny's shareholders, down more than 50% year to date.