ViaSat, Inc. VSAT shares are trading lower by $7.40 at $73.79 in Wednesday's session. Despite a Q3 beat of $0.13 coupled with a $20 million revenue beat, the Street is concerned over the pricing of its upcoming 6.5 million share offering.
The issue, which made a new all-time-high last Friday ($82.19) and all-time-closing high ($81.15), is now back in the mid $70 handle.
After a sharply lower open, it attempted to rally but came up well shy of the lower-end of Tuesday's range ($80.30), only reaching $76.87 before resuming it downward descent.
It has continued to make new lows for the session, with the current one standing at $73.47 as of 11:02 a.m. ET. Based on the daily charts, the next support level may not come in until its November 9 low ($72.49).
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