Why Garrett Motion Stock Is Down Today
Auto component manufacturer Garrett Motion (NASDAQ: GTX) announced a big secondary offering, meaning more shares on the market. Investors are responding by lowering the value of the shares already out there, sending Garrett down 10% as of 10:45 a.m. ET.Image source: Getty Images.Garrett is the former auto division of Honeywell International, and today is a maker of turbochargers for internal combustion engine vehicles as well as components for hybrid and battery electric vehicles.Continue reading
Auto component manufacturer Garrett Motion (NASDAQ: GTX) announced a big secondary offering, meaning more shares on the market. Investors are responding by lowering the value of the shares already out there, sending Garrett down 10% as of 10:45 a.m. ET.
Image source: Getty Images.
Garrett is the former auto division of Honeywell International, and today is a maker of turbochargers for internal combustion engine vehicles as well as components for hybrid and battery electric vehicles.
