Why CPI Card Group Stock Dropped 12% Today

Why CPI Card Group Stock Dropped 12% Today
·2 min read

Shares of credit and debit card manufacturer CPI Card Group (NASDAQ: PMTS) had fallen 12.1% as of 2 p.m. EDT Wednesday afternoon. Capitalizing on an impressive run in stock price after earnings last month, CPI filed an S-3 registration statement with the Securities and Exchange Commission today. In it, the company advised that it plans to issue and sell $150 million worth of new common stock at some point in the future.

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