Why JELD-WEN Holding Stock Is Falling Today
Shares of JELD-WEN Holding (NYSE: JELD) fell 10% on Tuesday after the company said shareholder Onex Partners Manager LP would sell down part of its stake. The deal will add to the total number of shares available to trade, which usually puts downward pressure on share price.
On Monday after markets closed JELD-WEN said that Onex intends to offer 10 million shares of the company's common stock for sale. The company will not receive any proceeds from the offering, which will happen in one or more transactions in the days and weeks to come.
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Source Fool.com
