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Why Shares of Global Ship Lease Are Falling Today

Why Shares of Global Ship Lease Are Falling Today

Shares of Global Ship Lease (NYSE: GSL) were down more than 12% on Friday after the container ship owner finalized the terms of a secondary stock offering. Global Ship Lease, an owner of a fleet of mid-sized and smaller containerships, on Friday said it is selling 5.4 million shares of its common stock for $13 apiece. Prior to Friday 2021 had started strong for Global Ship Lease shares, with the stock up nearly 45% year to date as of a few days ago.