What: Shares of 3-D printer maker voxeljet (NYSE:VJET) fell 18% today after the company announced details of a stock sale.
So what: The company will sell 3 million American Depositary Shares for $15 per share, which is 19.1% below yesterday's closing price. The offering is due to close on April 16. Underwriters will also have the option to buy another 450,000 ADS in the next 30 days.
Now what: The price is will below what you would normally expect from such an offering and shows just how skittish investors are about growth stocks right now. This really was a poorly timed offering and would have probably gotten a much better price just a few weeks ago. With shares hitting a 52-week low today, I don't see any reason to buy, particularly with losses expected to mount in 2014. But if you're holding long-term, today isn't a day to panic, either.
Travis Hoium has no position in any stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.