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Why Shares of Funko Are Down Today

TheMotleyFool

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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

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