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Why Vuzix Stock Plummeted Today

TheMotleyFool

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Vuzix Corporation (NASDAQ: VUZI), a maker of smart glasses and augmented reality technology, announced an $85 million public offering of its stock today. Investors didn't take kindly to the news and sent the company's share price tumbling.

The tech stock was down by 16.4% as of 2:33 p.m. EDT.

Vuzix said in a press release that the underwritten public offering will sell 4.1 million shares of its common stock to the public at $20.50 per share. The underwriters have the option to sell an additional 621,591 shares.

Source Fool.com

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