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SILK - Why Silk Road Medical Stock Is Sinking Today
Silk Road Medical Inc.
Shares of Silk Road Medical(NASDAQ: SILK) were sinking 11.4% lower as of 12:18 p.m. EDT on Wednesday. The decline came after the medical device company announced the pricing of a public stock offering. Silk Road plans to sell over 6.8 million new shares at $39 per share.
There's both good news and bad news anytime a company conducts a stock offering. Investors usually focus more on the bad news at first, and that's why Silk Road Medical shares are falling today.