Fluence Energy Inc (FLNC)

Fluence Energy Stock (FLNC) declined by 13.43% due to a critical report from a short-seller. After reporting robust fourth-quarter 2023 results, boasting a contracted backlog of $3.7 billion, Fluence Energy encountered a sharp downturn. A short-seller's report, notably from Blue Orca, questioned Fluence Energy's financial stability. Highlighting undisclosed litigation with parent company Siemens, alleging various engineering and design failures, including fraud, added to investor concerns.

Shares of Fluence Energy Inc (FLNC) dropped by 12.98% from $25.74 to $22.40 in the trading on Wednesday, December 6, 2023. The reason why FLNC is down today is due to the company's announcement of a secondary offering of Class A common stock by existing controlling stockholders. Fluence Energy announced a secondary offering of Class A common stock, which often involves existing shareholders selling their shares. This news can lead to selling pressure on the stock as it increases the supply of shares available in the market. Investors may have reacted negatively to the potential dilution of ownership resulting from the secondary offering, which could have contributed to the decline in FLNC's share price.