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Why Silk Road Medical Stock Is Sinking Today

TheMotleyFool

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Why Silk Road Medical Stock Is Sinking TodayPhoto, wide shot, wide-angle lens, Clinical research organization, Blue hour, twilight, cool, ISO1200, slow shutter speed, photo by Michael Light: https://img.theapi.app/temp/c28f6640-54ba-4d2b-afbe-b5fd3b0ee19e.png

Shares of Silk Road Medical (NASDAQ: SILK) were sinking 11.4% lower as of 12:18 p.m. EDT on Wednesday. The decline came after the medical device company announced the pricing of a public stock offering. Silk Road plans to sell over 6.8 million new shares at $39 per share.

There's both good news and bad news anytime a company conducts a stock offering. Investors usually focus more on the bad news at first, and that's why Silk Road Medical shares are falling today.

Image source: Getty Images.

Source Fool.com

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