Why Forterra's Shares Plunged 14.4% on Thursday
The company announced the sale of 10 million shares of Forterra stock at a price of $13.50 per share, below yesterday's closing price of $14.61 per share. This is notable because the offering didn't go to Forterra itself, but was rather a sale by the company's largest shareholder, Lone Star Funds. This sale doesn't fundamentally change Forterra's operations at all, so investors shouldn't panic sell.