🔴 Constellation Energy Corp is trading 5.5% down today after announcing an 11 million share secondary offering

Constellation Energy Corp is trading 5.5% down at $271.87 after existing shareholders announced a sizeable secondary offering of common stock.

• The company disclosed an underwritten public offering of 11 million shares by selling shareholders, with underwriters holding a 30-day option to purchase up to an additional 1.35 million shares.
• The stock is facing downward pressure as investors react to the increased share supply and typical uncertainty surrounding large secondary deals.