PL is trading 5.3% down at $27.29 today, extending sharp volatility. - The downturn reflects ongoing investor concerns over dilution from a previously announced $1.5 billion at-the-market (ATM) equity offering. - This offering, disclosed earlier in June, represents approximately 10% of the company's market capitalization and has fueled sharp volatility since its announcement. - Despite recent positive news regarding NGA contract extensions, investor sentiment appears to be overshadowed by the potential dilution and broader market conditions.