NVTS is trading at $18.80 (4.4% down) in pre-market, extending a sharp pullback triggered by the company's launch of a $125 million at-the-market equity offering.
- Shares fell 10.2% on May 18 after the offering was announced, as investors reacted to potential share dilution and supply overhang risks.
- The downward momentum continues as traders reassess the company's valuation amid broader market weakness and the ongoing impact of the new equity program.