Dole Stock Plunges 10.05% Amid Secondary Offering Concerns

On September 4, 2025, Dole's stock experienced a significant drop of 10.05% in pre-market trading, sparking concerns among investors about the company's recent secondary share offering.

Dole's secondary offering involves the sale of 11.9 million shares by major shareholders, including Castle & Cooke Holdings, Inc. and The Murdock Group, LLC. This transaction does not involve the issuance of new equity by Dole, meaning the company will not receive any proceeds from the sale. However, the increased liquidity from the sale of these shares has raised concerns among investors about potential market volatility.

Despite the announcement of the secondary offering, Dole's stock initially rose, indicating that investors were not overly concerned about the dilution of shares. However, the recent pre-market drop suggests that some investors may be reassessing their positions in light of the increased liquidity and potential market impact.

Goldman Sachs is leading the underwritten offering as the sole book-runner, which adds a layer of credibility to the transaction. However, the market's reaction to the secondary offering highlights the delicate balance between liquidity and investor sentiment in the stock market.