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Why Leslie's Stock Plunged on Monday

·2 min read
Why Leslie's Stock Plunged on Monday
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Shares of Leslie's (NASDAQ: LESL) traded lower on Monday, with the stock falling as much as 11.3% earlier in the session. The retailer of pool supplies slumped when the company revealed plans to sell as many as 14.95 million shares of stock. Leslie's announced a secondary offering of 13 million shares, while also granting the underwriters the option to purchase an additional 1.95 million shares of stock.