ADT Shares Drop as Apollo Global Management Exits Stake via 102 Million-Share Offering
ADT (ADT) shares fell 6.49% to $7.06 as Apollo Global Management exits its stake through a 102 million-share secondary offering. The increased share supply and ADT's concurrent buyback are under investor scrutiny. The S&P 500 and Nasdaq Composite also declined slightly on the same day.
Topics: buyback market reaction shareholder exit stock price movement