$Fluence Energy(FLNC.US) 20M share offering if you’re wondering why it’s trading down.
The 20M share is not dilution, but share unlock + transfer. So change of hands. The biggest problem was the clause that made active shelf-registered resale capacity of the 117,666,665 shares, so there’s an unlock of the other remaining ~97m shares to my knowledge. Net negative and very material to short term trade ideas. Since it expands the float and it introduces short term selling pressure.That’s the overhang…I personally cut concentration on the surprising news since it’s changes my trade idea with the float structure.But holding some anyway to see where it heads after hyperscaler deals. Definitely not telling people what to do, presenting new material overhang created by company management.Source: Serenity
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