Why ADT Stock Plunged Today

Why ADT Stock Plunged Today

Shares of ADT (NYSE: ADT) fell 13.3% on Wednesday after the security products company announced a secondary offering late on Tuesday. Several investment funds overseen by Apollo Global Management offered to sell 43.5 million shares of ADT common stock. The stock will be sold for $10 per share, which was lower than some investors expected, and ADT's share price fell in kind.