Why American Superconductor's Shares Plunged 15.1% on Thursday
Shares of American Superconductor (NASDAQ: AMSC) fell as much as 15.1% in trading Wednesday after the energy solutions provider priced a new share offering. Shares of the renewable energy stock are still down 14.3% at 10:10 a.m. EDT.
After the company announced the proposed stock offering yesterday, the deal was priced at $15 per share this morning and sized at 3.67 million shares. Underwriters have the option to sell another 550,500 shares over the next 30 days.
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Source Fool.com
