24.10.2018 18:53:15

Noodles & Co. Posting Steep Loss On Secondary Stock Offering

(RTTNews) - Shares of Noodles & Co. (NDLS) continue to see substantial weakness in afternoon trading on Wednesday after falling sharply early in the session. After hitting its lowest intraday level in over two months, Noodles & Co. is currently down by 20.2 percent.

The early sell-off by Noodles & Co. came after the restaurant chain announced the launch of a secondary offering of 8.75 million shares of its Class A common stock.

Noodles & Co. also reported third quarter earnings that matched analyst estimates on revenues that came in above expectations.

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Noodles & Company (A) 0,65 -1,52% Noodles & Company (A)