GENK Shares Drop After Texas BBQ Launch
GEN Restaurant Group shares were down 1.43% Friday at $2.07. The Korean BBQ chain said it will open another location in Texas, but traders kept their attention on ongoing soft sales and a new stock-sale filing that is now effective. The Nasdaq Composite gained 0.21%. Timing is in play. GEN announced its expansion just two days after the SEC declared its Form S-3 registration statement effective. That registration allows for the potential sale of up to $50 million in Class A common stock. A shelf registration lets a company offer shares over time if it wants to.