Symbotic shares fall 12.93% after-hours as secondary stock sale sparks dilution concerns.

Symbotic Inc. (SYM) fell 12.93% in after-hours trading following the announcement of a secondary stock offering involving 10 million shares, with 6.5 million issued by the company and 3.5 million by Softbank. The sale, disclosed in an SEC filing, triggered investor concerns over share dilution and valuation after the stock surged 56% post-earnings. While management cited the need to raise capital without debt, the timing—near an all-time high—sparked profit-taking and skepticism about the company’s ability to sustain its 160% year-to-date rally. Analysts noted the offering’s minimal dilution (under 6%) but highlighted broader risks, including customer concentration with Walmart and execution challenges tied to its GreenBox joint venture. The move also coincided with a near-tripling of deferred revenue, raising questions about future cash flow stability as Symbotic transitions to next-generation systems.