Why Shares of Funko Are Down Today
Shares of Funko (NASDAQ: FNKO) slumped on Tuesday after the pop culture consumer products company announced a secondary offering by selling shareholders. The stock was down about 11.9% at 1:20 p.m. EDT.
Under the offering, 4 million Class A shares will be sold by existing shareholders, with Funko not receiving any proceeds from the sale. JPMorgan is the sole underwriter for the offering.
Image source: Getty Images.
Source Fool.com


