After the close, Acacia Communications (NASDAQ:ACIA) updated Q3 guidance and more importantly announced a large secondary offering. The news comes after the stock has already slumped $30 from the recent highs and questions why investors are still in the stock.
Even after the hot IPO back in May, Acacia traded below $30 for several months. The stock topped out in September at nearly $130 so one has to wonder how it could get any better for the stock originally priced at $23.