Symbotic (SYM) Loses 28.7% on Dilution Impact of 10 Million Share Sale

Group 1 - Symbotic Inc. experienced a significant decline of 28.7% in its stock price due to investor concerns over potential dilution from plans to issue 10 million new shares [1] - The company plans to sell 6.5 million Class A shares, while SoftBank Group will dispose of 3.5 million shares [1] - The offering could generate at least $500 million, with net proceeds from the 6.5 million shares expected to be used for general corporate purposes [2] Group 2 - Symbotic has granted underwriters a 30-day option to purchase up to an additional 1.5 million shares at the public offering price [2] - Goldman Sachs has issued a "sell" recommendation for Symbotic, setting a new price target of $47 [2] - There is a belief that some AI stocks may offer greater potential for higher returns with limited downside risk compared to Symbotic [2]