Symbotic Inc. (NASDAQ:SYM) saw a 17.40% drop in stock price on Thursday, closing at $60.48 due to plans to issue 10 million new shares. The company will sell 6.5 million shares, with SoftBank Group Corp. selling 3.5 million shares. This move aims to raise funds for general corporate purposes. ON Semiconductor (ON) experienced an 11% surge in stock price following an aggressive expansion plan. Symbotic Inc. (NASDAQ:SYM) will grant underwriters a 30-day option to purchase an additional 1.5 million shares at the public offering price. Goldman Sachs issued a “sell” recommendation for Symbotic Inc. (NASDAQ:SYM) with a revised price target of $47, citing concerns about customer base and cash flow projections.

Read more at Yahoo Finance: Symbotic (SYM) Nosedives 17% on Million-Dollar Share Sale