Why JetBlue Stock Is Down Today
Shares of JetBlue Airways (NASDAQ: JBLU) fell 7% at the open on Wednesday after the airline announced a secondary offering. Selling more stock is by definition dilutive to existing holders, but in this airline's case, investors can't be too upset that JetBlue is adding to its liquidity. The carrier said Wednesday morning it would raise about $500 million by selling 36.5 million shares at $14.40 each.