FLYEXCLUSIVE INC (FLYX) saw its shares plummet 13.69% in the post-market session on Thursday following the announcement of a proposed underwritten public offering of its common stock.
The company disclosed the offering late Thursday, which typically leads to dilution of existing shares and short-term pressure on the stock price. Investors reacted negatively to the news, driving the stock lower in after-hours trading.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.