Why Array Technologies Stock Dropped 11% Today

Rich Smith, The Motley Fool
·1-min read
Why Array Technologies Stock Dropped 11% Today

You can blame hedge fund Oaktree Capital Management for that. Yesterday after close of trading, Array announced that one of its stockholders, controlled by Oaktree, is selling at least 25 million shares of Array, and perhaps as many as 28.75 million shares. Notably, because this is a sale by Array "insiders," and not by the company itself, Array will receive no cash from this stock sale.